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TREVI - FINANZIARIA INDUSTRIALE S.P.A.

(TFI)
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Trevi Finanziaria Industriale : WORKS ON MOSUL DAM

12/16/2015 | 07:36am EST

Microsoft Word - TREVI Group Press Release_161215_FINALS



WORKS ON MOSUL DAM Cesena, 16 December 2015 - TREVI Group, to clarify what has recently appeared on the press, notes that it has for many years maintained relations with the Government of Iraq (in particular with the Ministry of Water Resources), with the support of the Italian government, more recently of other governments as well as Italian and international financial institutions, for the execution of urgent works intended to safeguard the stability of the Mosul dam in Iraq. The dam, located 35 kilometers north of Mosul, is seriously damaged; the risk of failure could have huge consequences jeopardizing the provinces of Nineveh, Kirkuk and Salahuddin, possibly causing damages from the plain of the Euphrates to Baghdad, 350 kilometers south.

As of today TREVI Group is the only qualified company in the bidding for the award of maintenance of the dam and the process of negotiation of the terms and conditions of the contract with the Iraqi government is in its final stages.

A first emergency intervention package is being finalizing with immediate start of the works and lasting 18 months. This represents the first stage of implementation of a permanent solution for the consolidation of the dam in the means and to the extent to which it has been intended for years.

The risks of a potential collapse of the dam are worsened given the lack of maintenance of the dam in recent years, and an intervention for the safety is more than ever necessary. The final outcome of the bid of the Mosul dam remains a significant opportunity for the Group, which is well positioned for significant growth plans in the region.

The presence of the Italian army (on the side of the Iraqi Army and international forces) is critical for the safety of the remediation works.

About TREVI GROUP:

Trevi Group is a worldwide leader in the field of soil engineering (special foundations, tunnel excavation, soil consolidation and the building and marketing of special rigs and equipment relevant to this engineering sector); the Group is also active in the drilling sector (oil, gas and water) both in the production of plant and the supply of services, and it also builds automated underground car parks. The Group was established in Cesena in 1957 and today has more than 30 branches and is present in over 80 countries. Its success is due to the vertical integration of the main divisions making up the Group: Trevi, the division that supplies special services in the field of soil engineering, Petreven, the oil drilling division of the Group, Soilmec, the division that produces and develops plant and machinery for soil engineering and Drillmec the division that produces and develops drilling rigs (oil, gas and water).

The parent company TREVI - Finanziaria Industriale Spa has been listed on the Milan stock exchange since July 1999. The key financial figures for 2014 are: Total revenues of €1,250.7 million, EBITDA of €126.4 million (margin of 10.1%), EBIT of €62.6 million (margin of 5.0%), and NET PROFIT of €24.4 million.

More information can be found on the website: www.trevifin.com.



For further information:

Investor Relations:


Stefano Campana


+39 0547 319 411


scampana@trevifin.com

Josef Mastragostino

+39 0547 319 448

jmastragostino@trevifin.com

Group Communication Office:

Franco Cicognani

+39 0547 319 503

fcicognani@trevifin.com

Press office:

Studio Mailander

+39 011 5527 311

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