With reference to Current Report No. 3/2019 of 25 January 2019, the Management Board of STALPROFIL S.A. informs that on February 13, 2019, the Company was notified of the reverse signing of Gaz-System SA by Gas Transmission Operator SA partial agreement between a consortium of companies consisting of: STALPROFIL S.A. and Izostal S.A. (Contractor), and Operator Gazociągów Przesyłowych Gaz-System S.A. with headquarters in Warsaw (Ordering Party).
The subject matter of the contract is the manufacture, sale and supply of insulated externally and internally painted steel pipes for the one provided by O.G.P. Gaz-System S.A. investment project: Gas pipeline DN 1000 Poland - Slovakia with a length of 19 km. As part of the consortium, the subsidiary Izostal S.A. is responsible for the production and supply of the above-mentioned insulated steel pipes to the Ordering Party. (Consortium Leader).
A partial agreement will be concluded under and under the terms of the framework agreement of 17 April 2015, concluded between the Consortium of the following companies: Izostal S.A. and STALPROFIL S.A., and O.G.P. Gaz-System S.A.
The value of deliveries covered by the contract is PLN 33.091 thousand. PLN net (PLN 40,702 thousand gross), and their implementation will take place from June 1, 2019 to September 30, 2019.
The implementation of the aforementioned partial agreement will therefore have a significant impact on the increase in the value of the revenues of the subsidiary Izostal S.A. and the STALPROFIL S.A. Capital Group. mainly in the third quarter of 2019.
Source: company website, investor relations, current and periodic reports.