Jan 23, 2006
Proventia Group-owned Finnkatalyt Ltd. has received a significant order of retrofit exhaust gas reduction devices from Korea. The total value of this single order is about 1,2 Million Euros. The order is part of the retrofit program, which the Korean Ministry of Environment (MOE) has launched in order to reduce vehicle-borne pollution in Seoul metropolitan region.
Finnkatalyt delivered during 2005 several hundreds of Finnkat diesel emission control devices to Seoul with very positive user experiences. Recent order is the first concrete result from the co-operation with our Korean partner. During spring 2006 Finnkatalyt will supply emission control devices to light-duty pick-ups operating in Seoul metropolitan region.
Jari Lotvonen, the President of Finnkatalyt finds the Korean emission aftertreatment market very interesting. There is need and will to find solutions to reduce the emissions in urban areas Korea. This order is our first step in Korean market. We expect this project to expand in Seoul, and other Korean cities to follow Seoul's example in near future. Previous projects in Hong Kong and now in Seoul will serve as excellent references of our competence in retrofit market, not only in Korea but in whole Asia.
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