PETRO WELT TECHNOLOGIES AG
DGAP-News: Petro Welt Technologies AG / Key word(s): Miscellaneous Vienna, 27 August 2018 In accordance with the Group's "Strategy of Growth" and for the sake of addressing growing market demands in WellProp's products from Clients side, the Management Board of Petro Welt Technologies AG approved elaboration of project documentation dedicated to the construction of second manufacturing line at the Kopeysk plant in order to increase annual production capacities from 50 000 to 100 000 metric tons of proppant. The study will include financial and construction parts to evaluate economical value and CAPEX budget of the Company. Russian and international customers recognize quality of our proppant and provide a stable and increasing demand for it. Petro Welt Technologies is developing an alternative raw materials base for the new production line, which can decrease the cost of sales but sustain the quality known on the market. According to our projections the launch of the second line can permit to increase yearly revenue from forecasted EUR 13 million in 2018 to between EUR 25 and 30 million by 2021 to 2022. New production capacities should create reliable ground for export's expansion. The investment necessities are estimated now at the level of EUR 17 million to EUR 18 million. Contact:
27.08.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | Petro Welt Technologies AG |
| Kärntner Ring 11-13 | |
| 1010 Wien | |
| Austria | |
| Phone: | +43 1 535 23 20 - 0 |
| Fax: | +43 1 535 23 20 - 20 |
| E-mail: | ir@pewete.com |
| Internet: | www.pewete.com |
| ISIN: | AT0000A00Y78 |
| WKN: | A0JKWU |
| Listed: | Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |
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