Kentz Awarded US$30m Project in Madagascar

Kentz Awarded US$30m Project in Madagascar

London, 5 August 2010 - Kentz Corporation Limited (LSE: KENZ), the holding company of the Kentz Engineering and Construction Group, is pleased to announce that it has been awarded a US$30 million contract by SNC-Lavalin on the Ambatovy Project in Madagascar.

Ambatovy is a long-life lateritic nickel project set to be amongst the largest in the world with an annual design capacity of 60,000 tonnes.

Kentz's scope of work includes the electrical and instrumentation installation for the entire metals refinery area, and the piping fabrication and mechanical installation for part of the refinery area.

The Ambatovy project is a joint-venture partnership among the project operator, Sherritt International Corporation, which owns 40%, Sumitomo Corporation and Korea Resources Corporation, which each have a 27.5% interest, and the project's engineering contractor, SNC-Lavalin Group Inc., with an interest of 5%.

The Kentz team have mobilised on site. The contract is due to be completed by the end of 2010.

Dr Hugh O'Donnell, the chief executive of Kentz commented: "SNC-Lavalin is one of the world's leading engineering companies and we are delighted to be working with them on the
Ambatovy metals refinery. Kentz has executed a number of contracts in Madagascar and has a strong track record of developing the skills of the local workforce. We look forward to completing another successful project in the region."

 

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About Kentz

    •Kentz is a successful engineering contractor, which serves clients primarily in the oil and gas, petrochemical and mining and metals sectors. The Company's principal activities are the provision of mechanical, electrical, controls and instrumentation engineering, construction and management services

    •Kentz offers services to global customers; its geographical presence aims to reflect the demand of those clients. Kentz currently has activities in Saudi Arabia, Kuwait, Qatar, UAE, South Africa, Mozambique, Zambia, Madagascar, Russia, Azerbaijan, Kazakhstan, Malaysia, Indonesia, USA, Canada, the Caribbean, Australia, Norway and Ireland. Kentz operates in some of the most remote locations on earth

    •The Group's turnover is derived from blue chip end user clients and also from engineering, procurement and construction (EPC) contractors. The Group's end user clients include Shell, ExxonMobil, Chevron, Marathon, HESS and Sasol in the oil and gas sector, SIPChem, Linde and Krupp Uhde in the petrochemicals sector and One Steel, Mittal Steel and Anglo Coal in the mining and metals sector. The Group's EPC contractor clients include Fluor, Bechtel, JGC, Foster Wheeler and Technicas Reunidas.

    •Kentz has a proven health and safety record

    •Kentz has an experienced senior management team and has the ability to source an experienced and technically skilled workforce. The average length of service of the top 100 core management is over 18 years. Kentz currently employs over 7,000 people on a full time basis

    •In the year ending December 2006, the company generated revenues of $370 million and profit before tax of $25 million


    •Kentz can trace its origins to 1919 through the activities of various M F Kent entities. The Company is incorporated in Jersey and is owned by two of its senior managers and a group of Malaysian investors



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