PRESS RELEASE OF CENERGY HOLDINGS SA
Brussels, 20 July 2018
The enclosed information constitutes regulated information as defined in the Royal Decree of 14 November 2007 regarding the duties of issuers of financial instruments which have been admitted for trading on a regulated market.
Cactus II pipeline: Corinth Pipeworks has commenced delivery of steel pipes
Cenergy Holdings announces that its subsidiary, Corinth Pipeworks Pipe Industry S.A. has commenced delivery of steel pipes HFW 26”, 125.027 metric tons for the Cactus II pipeline, covering approximately 750 km, the supply of which was assigned to Corinth Pipeworks by a subsidiary of Plains All American Pipeline LP.
Despite the decision of the U.S. Department of Commerce to reject steel tariff exclusion request filed by Plains All American Pipeline LP in relation to import of high grade steel pipe from Greece for its Cactus II pipeline, Corinth Pipeworks will abide with the deliveries as planned, without any disruption or adverse financial impact.
Corinth Pipeworks is confident that it will continue to serve the US market in the future, due to its sound strategy and ability to offer unique and high-end products for energy infrastructure and its long term relationships with its customers.
About Cenergy Holdings
Cenergy Holdings is a Belgian holding company listed on both Euronext Brussels and Athens Stock Exchange, investing in leading industrial companies, focusing on the growing global demand of energy transfer, renewables and data transmission. The Cenergy Holdings portfolio consists of Corinth Pipeworks and Hellenic Cables, companies positioned at the forefront of their respective high growth sectors. Corinth Pipeworks is a world leader in steel pipe manufacturing for the oil and gas sector and major producer of steel hollow sections for the construction sector. Cablel® Hellenic Cables is one of the largest cable producers in Europe, manufacturing power and telecom cables as well as submarine cables for the aforementioned sectors. For more information about our company, please visit our website at www.cenergyholdings.com.