Retech Systems LLC, a Seco/Warwick company, signs contract for PLN 65.4 million

January 5, 2011

January 5, 2011

Retech Systems LLC, a company from the SECO/WARWICK Group, one of the world’s leading producers of equipment for heat treatment of metals, has signed a contract for about PLN 65.4 million (USD 21.56 million) to manufacture and deliver equipment for production of large-scale titanium metallurgical semi-manufactured items for one of the largest investment projects of this kind, being carried out in Kazakhstan. The buyer is an international joint venture that includes the largest titanium producer in Kazakhstan. The contract for signed for a period running through May 2013.

Retech Systems LLC is one of the world’s top three producers of equipment for vacuum metallurgy of titanium and specialty metals (including zirconium, niobium, tantalum, nickel and cobalt), with a brand recognized worldwide. The vacuum furnace that is Retech’s main product uses an electron or plasma beam to melt titanium and alloys of nickel or other specialty metals (cobalt, zirconium, platinum and others). Retech equipment is also used for casting of turbine blades for aircraft engines and gas turbines. Other equipment employs incineration in plasma for utilization of difficult wastes, such as waste from nuclear power plants or nuclear-powered ships.

SECO/WARWICK SA has been the owner of 100% of the shares of Retech Systems LLC since December of this year (previously, from July 2007, it held 50% of the shares).

“We are very pleased with the signing by Retech Systems LLC of a major contract with a customer from Kazakhstan,” said Leszek Przybysz, CEO of Seco/Warwick SA. “This contract reinforces the already strong backlog at Retech and confirms the excellent prospects for development of the company over the upcoming years. This is especially gratifying since Seco/Warwick SA became the 100% owner of Retech earlier this month.” |


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January 5, 2011

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