Business
Long term sales contract with
Long term sales contract with.
About this update from Ferrexpo Plc
[{"type":"text","content":"\n RNS Number : 6308X Ferrexpo PLC 09 December 2010 \n \n\n9 December 2010\nFerrexpo plc\n(\"Ferrexpo\", the \"Group\" or the \"Company\")\nLong term sales contract with JFE Steel\nFerrexpo is pleased to announce that it has entered into a long term agreement with JFE Steel (\"JFE\") commencing 2010 for the delivery of approximately 300 thousand tonnes of 65% iron content pellets per annum. JFE is a technology leader in the production of sophisticated steel products. It is the fifth largest steel producer in the world producing 25.8million tonnes of steel in 2009. \n \nThis is Ferrexpo's first long term contract in Japan and it is consistent with the Group's strategy to build relationships with first class Asian steel mills ahead of its planned Yeristovo mine expansion. \n \nMichael Abrahams, Chairman, commented:\n \n\"We are delighted to have secured our first contract in Japan with a customer of such high caliber. We believe Ferrexpo is the first iron ore producer in the CIS to negotiate a long term contract with a Japanese steel mill. Ferrexpo sent trial cargoes to JFE in 2007 and 2009 as part of its strategy to diversify its customer base and to position itself as a credible iron ore pellet supplier to the major steel mills. We look forward to a long and productive relationship with JFE.\" \n \nFor further information, please contact:\n \n\n\n\n\nFerrexpo: \n\n\n\n\n\n\n\nIngrid McMahon\n\n\n+44 207 389 8304\n\n\n\n\n\n\n\n\n\n\n\n\nPelham Bell Pottinger\n\n\n\n\n\n\n\nCharles Vivian\n\n\n+44 207 861 3126\n\n\n\n\nJames MacFarlane\n\n\n+44 207 861 3864\n\n\n\n\n \nNotes to Editors:\n \nFerrexpo is a Swiss headquartered resources company with assets in Ukraine, principally involved in the production and export of iron ore pellets, used in producing steel. Current output is approximately 9 million tonnes, which is exported to steelmakers around the world. The Group is listed on the main market of the London Stock Exchange under the ticker FXPO. For further information please visit www.ferrexpo.com.\n\nThis information is provided by RNSThe company news service from the London Stock Exchange ...