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KHD Humboldt Wedag receives $138 million contract

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May 5, 2008

NEW YORK—Plant engineering services company KHD Humboldt Wedeg International Inc. said Monday it received a $138 million contract from Russian cement producer OAO Novoroszement to develop a new production line.

Under the terms of the agreement, KHD will produce 2 million tons of cement annually, or about 6,000 tons each day.

"Our strategy of focusing on the market opportunities available in the robust Russian economy continues to significantly contribute to our record backlog levels," KHD Chief Executive Jim Busche said in a statement.

OAO Novoroszement is based in Krasnodar, Russia.

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