Significant new contract from China for SMT Scharf AG

(PresseBox) ( Hamm, )
SMT Scharf AG (German Securities Code (WKN) 575198, ISIN DE0005751986), the technology and global market leader for rail-bound railway systems for the mining sector, has received a further major contract from China. The order comprises five trains for monorail hanging railways with a total value in excess of € 2 million. The railway systems are expected to be delivered during the third and fourth quarter of this year.

The DZ 1500 monorail hanging railways on order are to be installed in five different hard coal mines belonging to a Chinese mining group which operates more than 40 mines in various provinces throughout China. This group has been SMT Scharf's customer since summer 2008 and is already using the company's monorail hanging railways to great effect in three of its mines. The systems installed up to date are primarily used to transport face equipment. The newly ordered trains will also serve mainly this purpose replacing the combinations of conventional mine railway systems and winches previously used. In addition to substantially improving safety, this will cut transportation times by more than 50%.

"We are delighted by the fact that the customer has been so impressed by the first railway systems we supplied, that they want to use this highly productive and safe transportation technology in additional mines," comments Dr. Friedrich Trautwein, CEO of SMT Scharf AG. He adds: "We view this contract as an extremely positive omen for the future international growth of SMT Scharf, particularly in light of the sluggish capital investment activity in mining in many regions. We believe that mining will continue to play a key economic role in the future, especially in the target markets China, Russia and South Africa."
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