25 May 2012

Tinci wins £10.2 million of contracts

31/01/2008 Robert Tyerman

Bombed-out environmental engineer Tinci Holdings has clinched three desulphurisation contracts in China.

The Hong Kong-based company, chaired by former insurance broker and ex-Lord Mayor of London Sir David Brewer, has successfully tendered for the flue gas desulphurisation (FGD) work, using its wet limestone technology, in two Chinese provinces, Qinghai and Shandong. Ningbei Aluminium is to pay £4.2 million for an FGD project in Qinghai, and Xinfa Huaxin Aluminium and Chiping Zinyuan Aluminium will pay £3.7 million and £32.3 million respectively for similar work in Shandong.

These deals suggest chief executive officer Xu Jinfu’s drive to promote Tinci’s FGD technology throughout China is bearing some fruit. It has brought some relief to Tinci’s shares, which were floated in 2006 at 70p and hit 123.5p before plunging to 23.5p last month.

Now 24.5p, up 1p this morning, they value the company at nearly £13 million.

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Sector: Mining

Companies: Tinci

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