Muehlhan Group lands record order through Danish subsidiary

  • Muehlhan A/S concludes multi-year agreement with Maersk Oil

  • The order volume is €100 to €130 million over the next five years

  • Little effect on Group EBIT

  • Muehlhan will create 300 new jobs in the short term


Hamburg, 27 March 2017 In March 2017, Muehlhan's Danish subsidiary, Muehlhan A/S, signed a framework agreement with Mærsk Oil with a total volume of €100 to €130 million. Over the next five years, Muehlhan will take over responsibility as the international oil and gas production company's sole partner for fabric maintenance. In addition, Muehlhan and Mærsk Oil agreed to an option for another year. The contract covers stable, steady work volumes without any major risks. As a result, the contribution to the Muehlhan Group's earnings will be below average.

The contract, which has a starting date of 1 April 2017, is the biggest single contract in the Muehlhan Group's company history. Executive Board Chairman Stefan Müller-Arends notes: "We are pleased that we will be able to further expand our cooperation with Mærsk Oil in the coming years. The Oil & Gas business segment is of significant strategic importance to us. We will affirm the high degree of trust demonstrated by this bundled order from our partner by providing excellent service."

Muehlhan A/S has already been working with Mærsk Oil in the offshore business for ten years. During that time, the company has regularly shown that it has an outstanding position in terms of price, performance, quality, safety, health and environmental protection (QSHE). These factors were also decisive in the company's ability to successfully win the recent competitive tender. Because of the higher work volume, Muehlhan will increase the number of local employees in the short term from 80 to around 380.

Mærsk Olie og Gas A/S is an international oil and gas producer headquartered in Copenhagen. Mærsk Oil produces 500,000 barrels of oil per day. Aside from Denmark and Great Britain, it also has production in Qatar, Kazakhstan, the Gulf of Mexico and Algeria. In addition, Mærsk Oil is engaged in development activities in Angola, Norway, Kenya, Ethiopia, Greece, Brazil, Kurdistan, Iraq and other oil-producing countries. Mærsk Oil is a subsidiary of the A.P. Möller Group, which has operations in more than 130 countries worldwide.

Worldwide, the Muehlhan Group is a reliable partner in industrial services and high-quality surface protection. As one of the few full-service providers, we offer our customers a broad range of services designed to meet the exacting quality standards expected in professional industrial services. Our customers benefit from our exceptional organizational skills, on-time delivery, the technical expertise that differentiates us from our competitors and more than 130 years of experience. We have an established market presence in the four business segments in which we operate: Ship, Renewables, Oil & Gas and Industry/Infrastructure. Muehlhan AG is a listed company and is traded on the Entry Standard market segment under ISIN DE000A0KD0F7.

For more information, please visit www.muehlhan.com

Press contact: Muehlhan AG; Tel.: +49 40 75271-150;

e-mail: investorrelations(at)muehlhan.com