March 16, 2020 / 5:53 AM / 16 days ago

BRIEF-OC Oerlikon Corporation AG Pfaeffikon Wins Three Orders In China

March 16 (Reuters) - OC OERLIKON CORPORATION AG PFAEFFIKON :

* WINS THREE LARGE MANMADE FIBERS ORDERS IN CHINA WITH A TOTAL VALUE OF OVER CHF 600 MILLION

* VERY SMALL PROPORTION OF THESE PROJECTS WILL BE RECOGNIZED IN OERLIKON GROUP'S ORDER INTAKE IN 2020, AND MAJORITY WILL BE ACCOUNTED FOR IN 2021 AND 2022

* ON-SITE DELIVERY AND INSTALLATION OF THESE SYSTEMS IS PLANNED FOR PERIOD FROM 2021 TO EARLY 2023

* SYSTEMS BUSINESS IN CHINA REMAINS LARGELY UNCHANGED DESPITE SHORT-TERM INTERRUPTION CAUSED BY CORONAVIRUS EPIDEMIC FOLLOWING CHINESE NEW YEAR CELEBRATIONS

* ONE OF THREE NEW ORDERS, VALUED AT MORE THAN CHF 300 MILLION (EUR 282 MILLION), IS LARGEST ORDER EVER RECEIVED BY OERLIKON BARMAG, BASED IN REMSCHEID, GERMANY Source text: bit.ly/2QhPhSE Further company coverage: (Gdansk Newsroom)

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