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Daldrup & Söhne AG: With a volume of orders worth 65 million Euros, Daldrup & Söhne AG working to capacity till end of 2018

DGAP-News: Daldrup & Söhne AG / Key word(s): Incoming Orders Daldrup & Söhne AG: With a volume of orders worth 65 million Euros, Daldrup & Söhne AG working to capacity till end of 2018 15.05.2017 / 07:49 The issuer is solely responsible for the content of this announcement. CORPORATE NEWS

 

With a volume of orders worth 65 million Euros, Daldrup & Söhne AG working to capacity till end of 2018

- Significant orders for all business divisions secured

- Research contract awarded by Leibnitz Institute for Applied Geophysics

Grünwald / Ascheberg, Germany, May 15, 2017 - The drilling technology and geothermics specialist Daldrup & Söhne AG (ISIN DE0007830572) has secured significant orders for all of its business divisions over the last couple of months. These include exploratory drillings for the extraction of raw materials (e.g. salts and coal), drillings for the development of deep geothermal waters, and mining-related assignments. Orders were placed by German businesses as well as by companies from Switzerland, Poland and the BeNeLux countries. With these drillings and the order by energy provider Stadtwerke Munich, the volume of orders will increase to around 65 million Euros by May 31, 2017, with additional orders already in the pipeline.

"The Daldrup Group will be working to capacity until the end of 2018", says Daldrup & Söhne CEO Josef Daldrup. "After a lean year in 2015 and somewhat muted growth during the first half of 2016, our order books are currently much fuller than they have been for a long time. The demand for geothermal deep drillings continues to be strong in Europe. I am convinced that we are at the beginning of a strong growth cycle for the use of geothermal energy, and that Daldrup & Söhne AG will be able to benefit from this."

Order for further exploration of Bavarian Molasse Basin received

The Leibnitz Institute for Applied Geophysics (LIAG) has placed an order worth around 1 million Euros with Daldrup & Söhne AG as part of the Dolomitkluft research project. The goal of the research project is to explore the high-temperature ranges in the various geological layers.