ERAMET group: Update regarding operational incident at TiZir in Norway on 15 August 2016
22.09.2016 | Globenewswire Europe
Reference is made to the announcement dated August 16th 2016 regarding the incident that occurred at the TiZir Titanium and Iron ilmenite upgrading facility ('TTI') in Tyssedal, Norway, resulting in the furnace being off-line.Planned repairs to the furnace have been completed on time. During the repair period it has become evident that some sections of the furnace lining have also been damaged. The full extent of this damage can only be assessed once the furnace is operating. Operations commenced on 21 September with hot conditions expected to be reached in 3-4 weeks.
TTI has ordered a spare lining to optimise a potential relining if necessary. The spare lining is scheduled to arrive the first week of January 2017.
As previously announced TiZir Limited has a property damage and business interruption insurance cover and is working with the insurance company to assess the damage and alternatives for repair.
The Group will continue to update the market as information becomes available.
ABOUT ERAMET
Eramet is one of the leading global producers of: alloying metals, particularly manganese and nickel, used to improve the properties of steel, high-performance special steels and alloys used in industries such as aerospace, power generation and tooling.
Eramet is also developing high growth potential activities, such as mineral sands (titanium dioxide and zirconium), lithium and recycling.
The Group employs approximately 14,000 people in 21 countries.
ABOUT TiZir
TiZir Limited is a 50/50 joint-venture between Eramet and Mineral Deposits Ltd. (Australia). TiZir Limited owns 90% of the Grande Côte Operations Mineral Sands deposit in Senegal, and 100% of the ilmenite upgrading facility TiZir Titanium & Iron, in Tyssedal, Norway.
CONTACT
Vice President Strategy and Financial Communication
Philippe Gundermann
Tel: +33 (0)1 45 38 42 78
Investor Relations and Strategic Analyst
Hughes-Marie Aulanier
Tel: +33 (0)1 45 38 38 04
Strategic and Financial Communication Analyst
Ludovic Donati
Tel: +33 (0)1 45 38 42 88
For more information: www.Eramet.com
Update regarding operational incident at TTI
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Groupe Eramet via Globenewswire
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Groupe Eramet via Globenewswire
