Business
Extension of Supply Contract
Extension of Supply Contract.
About this update from Ferrexpo Plc
[{"type":"text","content":"\n Ferrexpo PLC\n23 July 2007\n\n\n23 July 2007\n\n\n\n FERREXPO PLC ANNOUNCES EXTENSION OF SUPPLY CONTRACT WITH VOESTALPINE\n\nFerrexpo plc, the London-listed resources group, today announces that the\nEuropean steel processing group Voestalpine AG has extended its contract for the\nsupply of iron ore pellets through to 2015.\n\nUnder the agreement, Ferrexpo will supply Voestalpine with more than two million\ntonnes of pellets per annum. Through Ferrexpo Poltava Mining, its principal\noperations in Ukraine, Ferrexpo has been a stable supplier to Voestalpine for\napproximately 25 years.\n\nFerrexpo believes this contract cements the strategic nature of its relationship\nwith Voestalpine and represents a further milestone in its expanding product\ndistribution. Ferrexpo is committed to realising the potential of its unique\nresource of approximately 18 billion tonnes of iron ore, and to becoming a\nleading global supplier of iron ore pellets.\n\n'We are pleased to extend our relationship with Voestalpine,' said Simon Wandke,\nFerrexpo's Chief Marketing Officer. 'Voestalpine is a core customer relationship\nfor Ferrexpo Poltava Mining in which our joint management of the rail and vessel\nsupply chain from Ukraine to Voestalpine's facilities allows for effective and\ntimely pellet supply, and our product flexibility meets the needs of\nVoestalpine. This agreement underscores our significant competitive advantages\nand ability to deliver value to our clients and shareholders.'\n\n -ENDS-\n\n\nFor further information, please contact:\n\nFerrexpo: +44 207 389 8302\n\nDennis McShane\nSimon C Wandke\n\nFinsbury: +44 207 251 3801\n\nRobin Walker\nAlex Simmons\n\n\nNotes to Editors:\n\nFerrexpo is a resources company with assets in Ukraine, principally involved in\nthe production and export of iron ore pellets, used in producing steel. Current\noutput is around 9 million tonnes, around 90% of which is exported to\nsteelmakers around the world. The Group is currently undertaking a significant\ngrowth programme and listed on the main market of the London Stock Exchange in\nJune 2007 under the ticker FXPO. For further information please visit\nwww.ferrexpo.com.\n\nVoestalpine, headquartered in Austria, is a leading European processing group\nwith its own steelmaking facilities. It is the third largest supplier in Europe\nof high quality shee...