Stork
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Stork Group announces launch of senior secured notes offering

Stork HOLDCO B.V. (the “Issuer”), a wholly-owned indirect subsidiary of Stork B.V. (“Stork”) announced today that it intends to launch an offering of €315,000,000 aggregate principal amount of senior secured notes due 2019. The proceeds from the offering will be used principally to refinance existing indebtedness of Stork as part of a broader refinancing and corporate reorganization.

Leading role for Stork in SABIC naphtha cracker turnaround in Geleen

This major turnaround is carried out every six years, and involves thorough and detailed inspection and maintenance works. Total costs of the turnaround for SABIC are approximately 80 million euro, including lost production. “It’s a huge operation”, says Jacques Kemp, Project & Turnaround Manager of SABIC in Geleen. “We’re talking about 310,000 man-hours of work in a three-week period involving 80 contractors, with around 2,000 people working each day. Of that total, 500 are from Stork.