ABB awarded $150m

ABB said today it has received a contract from Myllykoski Paper to assume responsibility for maintenance operations at the company’s mill in Anjalankoski, Finland. The ABB Full Service agreement is valued at more than $150m.

The new performance-based agreement will help Myllykoski Paper to focus on its core competence of papermaking as ABB assumes responsibility for mill maintenance and productivity.

The arrangement covers automation, electrical and mechanical maintenance and planning as well as material management at the mill, which produces some 500,000 tons of coated and uncoated papers annually. About 170 Myllykoski Paper employees will transfer to ABB.

The new service contract with Myllykoski Paper begins on January 1, 2007.

Myllykoski Paper markets, develops and manufactures high-quality papers for magazines and advertising materials. The company currently employs about 800 people at its publication paper mill and reported net sales of E270m in 2005.