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LME: The revamping process of the steelmaking facilities has been actually completed.

Spekuliantai.lt | 2011-12-23 | NASDAQ OMX biržų naujienos | perskaitė: 734
Raktiniai žodžiai: Liepajas metalurgs, LME
LME: The revamping process of the steelmaking facilities has been actually completed.

Liepajas metalurgs Company Announcement 23.12.2011

The revamping process of the steelmaking facilities has been actually completed.

Liepaja, 2011-12-23 14:46 CET (GLOBE NEWSWIRE) -- The process of revamping of
the steelmaking facilities of the Joint Stock Company “Liepajas Metalurgs” has
been actually completed in full compliance with the foreseen project schedules.
During the implementation of the project - in the former Siemens Martin Shop
(now the EAF Melt Shop) the Siemens Martin technology, which served for more
than 100 years, was replaced by modern equipment for electrical production of
steel: 100 ton Electric Arc Furnace (EAF), scrap preheating system (hereinafter
COSS - Continuous Optimized Shaft System), 100 ton Ladle Furnace (LF), Water
Treatment Plant, Dedusting Plant, Substation 110 kV and the Compensator.

Certain changes were also made to the existing Continuous Casting Machine
(CCM), which was built at the first stage of the revamping of the company’s
steelmaking facilities. As a result of this revamping the equipment was
installed that allows to cast steel made and refined in the EAF and LF, and to
cut the cast billets with the Oxygen Cutting Machine.

For the purposes of the above-mentioned steelmaking plant also the
infrastructure was improved and revamped for accumulation, storage and handling
of metal scrap, 6 new bridge cranes were installed for loading metal scrap into
scrap buckets, roads were built with total area of 22000 m2 for specialized
scrap transportation vehicles.

According to the foreseen schedule – within the boundaries of another project
– the second stage of the new Oxygen Plant of Company “ELME-MESSER-METALURGS”
is been completed. This Oxygen Plant will satisfy the demand of the steel
making equipment in the required technical gases such as oxygen and nitrogen
with the on-the-spot production.

The terminal for handling of lime necessary for the steelmaking process already
started its operation in Autumn 2011.

JSC “Liepajas Metalurgs” informed about the successful start-up of the new
steelmaking plant on 06.12.2011. During the implementation of this project a
high technological system of production was introduced. Thanks to this system
the company will increase its competitiveness and production capability by 80%
with considerably less production cost.

In the process of making and implementation of the new technologies the
following companies were involved: STG Group S.p.A. (Italy), FUCHS Technology
AG (Switzerland/Germany), Converteam/General Electric (France/Germany) and JSC
“Liepajas Metalurgs”.

As we already informed, on 29th December 2009 the package of all agreements for
financing of the second stage of the company’s modernization was agreed with
one of the leading Italian banks UniCredit MedioCredito Centrale SpA with the
overall amount of the bank financing EUR 85'597'300. All the preconditions for
provision of long-term financing were fully achieved and the financing came
into force on 30th June 2010.


Līga Šenfelde
Assistant of the Chief Economist
T.: 63455926, shenfelde@metalurgs.lv

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