Pöyry Awarded Engineering Assignment by MWV Rigesa in Brazil
Vantaa, Finland, 08 February 2011 -- Pöyry's Industry business group has been awarded an assignment by MWV Rigesa Ltda., Brazil for the expansion of its paperboard mill in Três Barras, Santa Catarina State, Brazil.
The assignment consists of contracts for EPC open book of the balance of plant (BOP) together with the associated EPCM services, and project management services for the overall project management support to the client. The total value of Pöyry's contracts is about BRL 325 million (about EUR 144 million), of which a majority consists of the EPC open book BOP contract. The contracts have been signed on 07 February 2011.
A notice to proceed for the EPC open book contract is expected to be received during the first quarter of 2011 after which the value will be booked into the order stock. The new machine is expected to be completed in mid-2012. Due to the nature of the contracts, profit recognition will occur towards the latter part of the project.
MWV Rigesa is expanding its operations at the Três Barras mill, including the installation of a new, state-of-the-art paperboard machine that will double the capacity of the existing mill. The new machine will produce 300,000 metric tons per year of kraft linerboard for use in the company's packaging converting operations throughout Brazil. A water management system will enable water efficiency improvements, reducing water consumption per ton of paper produced by 65%. The Rigesa expansion project will support MWV's rapidly growing, integrated corrugated packaging business in Brazil.
Pöyry is a global consulting and engineering company dedicated to balanced sustainability and responsible business. The company delivers best-in-class management consulting, total solutions, and design and supervision, with expertise extending to the fields of energy, industry, urban and mobility, and water and environment. Pöyry has 7000 experts and local office networks in about 50 countries. Pöyry's net sales in 2009 were EUR 674 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).