Urutransfor to supply 60 power transformers to Venezuela
Uruguay: Urutransfor signed a contract with National Electricity Corporation of Venezuela worth $ 32 million to supply 60 power transformers over 3 years.
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Uruguay: Urutransfor signed a contract with National Electricity Corporation of Venezuela worth $ 32 million to supply 60 power transformers over three years.
Speaking to El Observador, Urutransfor CEO, Jorge Bardier explained that the contract provides for the export of 20 transformers per year in period of three years. He said that the company received an advance payment of about $ 4 million to begin construction of the first 20 power transformers.
Urutransfor plans to start the first shipment from August at a rate of two to three shipments per month, reports El Observador.
“We are excited because this negotiation took a long time.” said Bardier. Negotiations between the two companies for this contract began in the late 2011.
Bardier added: “This contract should have a significant impact on the company’s earnings. It is ongoing. We have to complete the first shipment and then we will receive the advance payment for the second year.” Urutransfor currently exports to markets in Bolivia and Ecuador.
Source: El Observador
Image: Transformer station by Lhoon (Creative Commons Licence)
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