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EANS-News: ANDRITZ regrets export credit agencies´ withdrawal from the Ilisu hydropower project in Turkey

Graz (euro adhoc) -

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
industry/stock market
Graz, July 7, 2009. International technology
Group ANDRITZ regrets the withdrawal by export credit agencies in 
Germany, Switzerland and Austria from the Ilisu hydropower project in
Turkey. Wolfgang Leitner, President and CEO of ANDRITZ AG, says: "It 
is very unfortunate that the intense efforts Turkey has made in the 
past months to implement the accompanying measures in the 
environmental, resettlement and cultural areas did not receive 
adequate recognition." Turkey fulfilled many of the pending items and
requirements set by the export credit agencies; this substantial 
progress was also acknowledged by the independent Committee of 
Experts (CoE) appointed by the export insurance agencies, which 
conducted an in-depth examination in Turkey of the measures 
implemented.
This decision by the export credit agencies will not have any 
material financial impact on ANDRITZ because only a very small amount
of the order value has been booked so far.
ANDRITZ now awaits the Turkish government´s decision on how it will 
proceed with this project.
- End -
ANDRITZ HYDRO ANDRITZ HYDRO, a member of the ANDRITZ GROUP, is a 
global supplier of electromechanical systems and services 
(`water-to-wire´) for hydropower plants. The company is a leader in 
the world market for hydraulic power generation and has a top 
position in the growing power plant refurbishment segment. This and 
other press releases of ANDRITZ HYDRO are available for download at 
www.andritz-hydro.com.
ANDRITZ GROUP The ANDRITZ GROUP is a global market leader for 
customized plant, process technologies, and services for the 
hydropower, pulp and paper, metals, and other specialized industries 
(solid/liquid separation, feed and biofuel). The Group has its 
headquarters in Graz, Austria and has a staff of 13,600 employees 
worldwide. ANDRITZ operates over 150 production sites, service and 
sales companies all around the world.
end of announcement                               euro adhoc

Further inquiry note:

Dr. Michael Buchbauer
Head of Group Treasury, Corporate Communications & Investor Relations
Tel.: +43 316 6902 2979
Fax: +43 316 6902 465
mailto:michael.buchbauer@andritz.com

Branche: Machine Manufacturing
ISIN: AT0000730007
WKN: 632305
Index: WBI, ATX Prime, ATX
Börsen: Wien / official dealing

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