15th Dec 2009 15:29
15 December 2009
KBC Advanced Technologies plc ("KBC")
Contract Award and Trading Update
KBC is pleased to announce today a new software contract award with Petróleo Brasileiro S.A. (Petrobras), the state national oil company of Brazil, for the licensing of our refinery simulation software, Petro-SIM™. The contract encompasses reactor models, the Petro-SIM engineering flowsheet and elements of support and model building for all of Petrobras's Brazilian domestic refineries, a number of their international sites, and their head offices in Rio de Janeiro.
The value of the contract is more than US$4m and the licences are granted for a period of three years.
KBC performed several large profit improvement projects for Petrobras in the first half of this decade, which included the licensing of some of KBC's earlier simulation software technology, before Petro-SIM was launched in late 2004. This sale effectively upgrades Petrobras to KBC's latest technology.
George Bright, Chief Executive, said today: "We are delighted to have won this contract with another longstanding customer further validating the power and continuing loyalty of our blue-chip customer base. Following receipt of this contract we are also pleased to confirm that we expect to meet current market expectations for the year to 31 December 2009."
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KBC Advanced Technologies plc |
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George Bright, Chief Executive Nicholas Stone, Operations and Finance Director |
01932 236314 |
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Weber Shandwick Financial |
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Nick Oborne/Clare Thomas |
020 7067 0700 |
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Arbuthnot Securities |
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James Steel / John Prior / Antonio Bossi |
020 7012 2000 |
About KBC
For 30 years KBC's consultants have provided independent strategic and engineering expertise to enable leading companies in the global energy business and other process industries to manage risk while maximising value from their assets. In times of economic uncertainty and increasing environmental pressure, KBC's proprietary methodologies and innovative tools guide its clients' key strategic decisions, enabling them to prioritise and implement initiatives that maximise return on investment, and improve operational performance. KBC offers Strategic and Market, Capital Investment, Operating, Organisational, and Environmental Solutions. For more information, visit www.kbcat.com.
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