Oct. 2006 — Outokumpu Technology was recently granted an order to supply a large iron ore pelletizing plant for Minerações Brasileiras Reunidas (MBR), Nova Lima, Minas Gerais, Brazil.

With a contract value in excess of EUR 110 million, this deal is a continuation of the engineering contract the companies announced in March 2006. Outokumpu Technology's delivery includes two complete equipment packages, one for a pellet indurating furnace and the other for a green pelletizing system. Outokumpu Technology will source the majority of the equipment for the project locally in Brazil.

"The majority of the world's iron ore pelletizing plants are built by Outokumpu Technology. The new MBR plant will already be the 12th pelletizing plant in Brazil using our traveling grate process. This deal demonstrates our reliability and technological leadership in new investments in the mining and metals industries", says Tapani Järvinen, President & CEO of Outokumpu Technology.

The new facility is scheduled to start up in mid-2008. Once operational, the plant will produce 7 million tonnes of iron ore pellets per year.

Brazilian CVRD is the major owner of MBR. The pelletizing plant is part of MBR's Itabiritos Project, a USD 760 million investment, which, in addition to the pelletizing plant, includes a new 10 million tonnes per year iron ore concentrator and a 5-km pipeline.

Outokumpu Technology is a worldwide technology leader in minerals and metals processing, providing innovative tailored solutions for a wide variety of customer needs in iron and steel, aluminum and non-ferrous metals industries. With a global network of sales and service centers, research facilities and 1800 experts the company generated annual sales of 556 million euro in 2005.