Mytilineos S.A. and ELLINIKI TECHNODOMIKI S.A., wish to announce their decision to jointly contest the public metallurgical area of Vevi in Florina prefecture. As it is known, the Ministry of Development has proclaimed a public tendering process in order to lease for research and exploitation the metallurgical area of Vevi. Tenders are to be submitted the latest September 29, 2006. The two Groups shall participate through their subsidiaries AKTOR S.A. (60%), METKA S.A. (30%), and MYTILINEOS POWER GENERATION AND SUPPLies S.A. (10%).
Further to their close and excellent cooperation in the case of the Vevi lignite mine, the Groups plan to jointly contest future lignite exploitations, such as those of Elassona and Drama. If they outbid and secure any of the above exploitations, the contracted parties shall establish a joint-stock company, the aim of which shall be to construct and operate a lignite power plant, MYTILINEOS participating with a 60% and ELLINIKI TECHNODOMIKI with 40%. In case of a general energy agreement, the above percentages shall become 50-50%.
Meanwhile, MYTILINEOS S.A and ELLINIKI TECHNODOMIKI S.A. discuss ways of cooperation with the Group HELLENIC PETROLEUM S.A. in the areas of power production, exploitation, and supply, such as the production from natural gas-fired power plants, any form of renewable energy sources installation, the co-production of heat and electric power, etc. If the negotiations are proven fruitful - following an assessment of the assets of the three groups - HELLENIC PETROLEUM shall provide its existing activities, including the THESSALONIKI ENERGY COMPANY S.A. (a combined-cycle natural gas-fired unit of 390 MW) and shall participate in the lignite power stations and the lignite mine exploitation.
With this intention, two of the most important Greek industrial Groups'' ELLINIKI TECHNODOMIKI and MYTILINEOS S.A., actualize the prospect of strategic cooperation of Greek business forces, and place the foundation for the creation of a powerfull Greek energy group of a european size and prospect, in order to effectively promote energy investments in the deregulated energy market in Greece and the neibhouring areas.
MYTILINEOS GROUP is comprised of leading companies in the sectors of Metallurgy and Mines, Energy, Technical Constructions, and Defense Industry. It was founded in Greece in 1990, it is an Athens Stock Market company, has a consolidated turnover which surpasses Euro 750 million, and employs more than 4,000 employees in Greece and abroad. For additional information please visit the Group''s site: www.mytilineos.gr.
For additional information please contact: Mr. Emanouil Perakis, Manager of Corporate Social Responible & Communication, τel. 210-6877301, fax 210-6877400, e-mail: com@mytilineos.gr.