- CSA Strengthens Longstanding Business Relationship between GE and
Yara - Agreement
Highlights GE's Strategic Growth in Downstream Industrial Sectors
SLUISKIL, NETHERLANDS---December
16, 2013---GE Oil & Gas (NYSE:
GE) today announced it has signed a 12-year contractual service agreement (CSA)
with Yara International ASA, a global
chemical company based in Oslo, Norway, to maintain an array of GE rotating
equipment at Yara's fertilizer complex in Sluiskil, in the province of Zeeland,
the Netherlands.
Under this CSA, GE will provide
maintenance and services for 45 compressors, gas and steam turbines and turbo
expanders at the Sluiskil
site. Yara will benefit from reduced costs for maintenance and GE Oil &
Gas' Contractual Services unit's project management skills.
This new agreement is part of a
long-lasting business relationship between GE and Yara, which was taken further
in 2000 with an extended parts and services frame agreement.
The Sluiskil site includes two
gas turbines constantly monitored by GE's iCenter---GE's remote data monitoring center in
Florence, Italy---one of the first
high-efficiency heavy-duty MS5002E ever installed.
"With a significant number of GE
units installed and operating for over decades at our site and with a long term
successful working relationship and gaining good experience from a number of
turn key maintenance interventions over the years, it was a very logical step
for us to confirm predictability, simplification and cost-efficient planning
and execution of turn-arounds and overhauls by extending this into a long-term
contracted service agreement. It is our expectation that this will further
combine the quality and reliability of GE's services with our own resources to
achieve even better results in reduced maintenance time and costs and longer
duration between maintenance interventions," said Jon Sletten, plant manager of
the Yara Sluiskil site.
"As industrial companies look to
optimize the efficiency and long-term availability of their production
facilities, CSAs at fertilizer plants represent a significant potential
downstream growth opportunity," said Girish Saligram, Contractual Services general
manager---GE Oil & Gas.
"Therefore, our CSA with Yara is an important model for GE's strategic
growth in the downstream sector."
Yara is a leading chemical
company that converts energy, natural minerals and nitrogen from the air into
essential products for farmers and industrial customers. The main application
is fertilizers, while industrial uses and environmental solutions also are important
growth segments.
Since 1929, the company's Sluiskil
complex has been located on the Ghent-Terneuzen canal, a major waterway opening
through the Western Scheldt into the North Sea and connecting to European
waterways. As with many European fertilizer complexes, the site's development
was linked to the availability of coke oven gas from a neighboring coke
factory. Yara's Sluiskil site features Europe's largest installed ammonia and
nitrate fertilizer production capacities with three ammonia plants, four CO2
plants, two nitric acid plants, two urea plants and two nitrate granulation
plants. Sluiskil has both Yara's and Europe's largest installed ammonia and
nitrate fertilizer capacities.
About GE
GE
(NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in energy,
health and home, transportation and finance. Building, powering, moving and
curing the world. Not just imagining. Doing. GE works. For more information,
visit the company's website at www.ge.com.
About
GE Oil & Gas
GE Oil & Gas
is a world leader in advanced technologies and services with 43,000 employees in more than 100 countries supporting customers across the
industry---from extraction
to transportation to end use. Our unrelenting commitment to the environment,
health and safety, quality and integrity defines us: it's The Way We Work. We
develop smart solutions for our customers across the oil and gas value chain
delivering the innovation, customized service solutions, training programs and
technology that helps them to maximize their efficiency, productivity and
equipment reliability. We partner with our customers to develop their next
generation workforce; help them to fully benefit from the megatrends of natural
gas, the growth of subsea and hard-to-reach reserves and the revolution in
asset health management. Follow
GE Oil & Gas on Twitter @GE_OilandGas.
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