DRAKA HOLDING : Offshore awarded Baltic 2 wind farm subsea array cable contract

Draka announces that it has been awarded the array cabling contract for the Baltic 2 offshore wind farm from Visser & Smit Marine Contracting. The Baltic 2 contract, valued at approximately ? 23 million requires Draka to deliver approximately 95 kilometers of 36kV subsea power cable for use in the project. The first delivery on the contract will take place in the second quarter of 2012 and final delivery will take place in the first quarter of 2013.

 

"The Baltic 2 project represents a continuation of our rapidly expanding business in the offshore renewable energy industry,`` said Martin Dale, commercial director for subsea for Draka Offshore. In the past six months, Draka has won contracts for two major offshore wind farms, won a design contract for a third field and has recently supplied subsea power cables for tidal and wave energy in Scotland.

 

"We have been delivering subsea power cables to the oil and gas and utility sectors for more than 30 years and the addition of these new projects demonstrates the trust our customers place in our performance and our ability to deliver the same consistent quality for the offshore renewable energy market,`` added Dale.

 

Efficient system leads to installation savings

 

As part of the contract, Draka is to provide installation accessories. Specially designed by Draka, the subsea cables and accessories package will provide Visser & Smit with a very efficient installation system. "Draka`s assistance with designing and engineering the installation package for us was instrumental," said Marcel Schoots from Visser & Smit. "On-time delivery combined with this accessory package should help enable very efficient installation in the field." 

 

Delivering energy to 340,000 homes

 

Located in the Western Baltic Sea, approximately 32 kilometers north of Rugen Island, Baltic 2 will cover an area of approximately 27 square kilometers. With its 80 wind turbines, each rated at 3.6MW, Baltic 2 will have a total capacity of 288MW and is the second commercial offshore field being built in Germany. Managed by EnBW utility, when fully operational, it is projected that the field will generate enough clean, renewable energy for more than 340,000 homes. In addition, it will help eliminate more than 900,000 tonnes of CO2 emissions. First maritime civil works are scheduled to commence in early 2012, with the wind farm to come on line in 2013.

 

Pdf version of the press release:
http://hugin.info/130732/R/1465288/403520.pdf

 

Pdf versie van het persbericht:
http://hugin.info/130732/R/1465288/403519.pdf

 

NOTE FOR EDITORS: for more information, please contact:

 

Draka Holding N.V.:
Michael Bosman - Director Investor Relations       [phone]; [e-mail]:
mailto:[e-mail]

 

Cautionary note regarding forward-looking statements

 

This announcement contains forward-looking statements. Forward-looking statements are statements that are not based on historical fact, including statements about our beliefs and expectations. Any statement in this announcement that expresses or implies our intentions, beliefs, expectations or predictions (and the assumptions underlying them) is a forward-looking statement. Such statements are based on plans, estimates and projections as currently available to the management of Draka. Forward-looking statements therefore speak only as of the date they are made and we assume no obligation to publicly update any of them in the light of new information or future events.

 

Forward-looking statements involve inherent risks and uncertainties. A number of significant factors could therefore cause actual future results to differ materially from those expressed or implied in any forward-looking statement. Such factors include but are not limited to conditions on the markets in Europe, the United States and elsewhere from which we derive a substantial portion of our revenue, potential defaults on the part of borrowers or trading counterparties, the implementation of our restructuring programme including the envisaged reduction in headcount and the reliability of our risk management policies, procedures and methods. For more information on these and other factors, please refer to our annual report. The forward-looking statements contained in this announcement are made as of the date hereof and the companies assume no obligation to update any forward-looking statement contained in this announcement.
  

2011 Financial calendar (provisional)
Publication of 2010 full-year figures	Tuesday 15 February 2011 (before start of trading)
General Meeting of Shareholders, Holiday Inn Amsterdam	Monday 9 May 2011 Start at 14.30h
Publication of trading update for the first half of 2011	Wednesday 18 May 2011 (before start of trading)
Publication of 2011 half-year figures	Thursday 4 August 2011 (before start of trading)
Publication of trading update for the second half of 2011	Tuesday 15 November 2011 (before start of trading)

 

Company profile

 

Draka Holding N.V. (`Draka`) is the holding company of a number of operating companies that are active worldwide in the development, production and sale of cable and cable systems. Draka`s activities are divided into three groups: Energy & Infrastructure, Industry & Specialty and Communications.

 

Within these three groups, the activities are organised into divisions. Energy & Infrastructure consists of the Europe and Asia-Pacific divisions; Industry & Specialty consists of the Aerospace, Automotive, Elevator, Engineered Specialties, Offshore and Renewable Energy divisions and the Communications Group comprises the Telecom Solutions, Multimedia and Specials, Americas and Optical Fiber divisions.

 

Draka has 68 operating companies in 31 countries throughout Europe, North and South America, Asia and Australia. Worldwide, the Draka companies employ some 9,400 people. Draka Holding N.V.`s head office is in Amsterdam. In 2009, Draka reported revenue of ? 2.0 billion and net income of ? 48.3 million (excluding non-recurring items).

 

Draka Holding N.V. ordinary shares and subordinated convertible bonds are listed on NYSE Euronext

 

Amsterdam. The company is included in the Next150 index and the AMX index (Amsterdam Midkap index). Options on Draka shares are also traded on the NYSE Euronext Amsterdam Derivative Markets.

 

More information on Draka Holding N.V. can be found at www.draka.com:
http://www.draka.com/.

HUG#1465314

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Draka Holding NV via Thomson Reuters ONE

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