With reference to Current Report No. 3/2019 of 25 January 2019, the Management Board of Izostal S.A. (Company, Contractor) informs that on February 13, 2019 Izostal S.A. as the leader of the consortium (composed of: Izostal S.A. and Stalprofil SA), he was informed about the second-party signing of a partial contract with Gaz-System Przesyłowych Operator Gaz-System S.A. with headquarters in Warsaw (Ordering Party). The partial contract will be implemented as part of the framework agreement, about which the Company informed in the current report No. 15/2015 of April 17, 2015.
The subject of the partial contract is the manufacture, sale and supply of insulated and internally insulated steel pipes for the investment task carried out by O.G.P. Gaz-System S.A. - DN 1000 Poland - Slovakia pipeline with a length of 19 km.
The value of the partial agreement is PLN 33,091 thousand. PLN net, which is 40,702 thousand. PLN gross.
The Contractor will execute the subject of the partial agreement from 1 June 2019 to 30 September 2019. Detailed conditions under which the aforementioned partial agreement will be implemented, including a description of contractual penalties, have been specified in the framework agreement, about which the Company informed in current report No. 15/2015 dated 17 April 2015.
The Management Board of the Company considers the described contract to be significant due to its high value. The implementation of the aforementioned agreement will have an impact on the Company's revenue growth.
Source: company website, investor relations, current and periodic reports.