TIMEC achieves contract renewals and seals new deals

Strong market fundamentals in the refining and petrochemical industries contributed to contract renewals and new business deals, securing a busy second half of 2008 for TIMEC.

Among the renewals stood out the one-year extension of the $3million contract with Frontier in El Dorado, KS for routine maintenance. TIMEC Company, Inc. has been servicing the facility since 1999.

A new three-year continuous maintenance agreement was executed between TIMEC Company, Inc. and SemMaterials in Billings, MT. The annual estimated value hovers around $800 thousand.

On the turnaround front, James-TIMEC International, Inc. recently completed a catalyst-handling job at Agrium in Kenai, AK. TIMEC and its affiliates have committed to performing shutdown work at several facilities in the coming months.

TIMEC Company, Inc. will be working on several units at the Dyno Nobel fertilizer plant in Cheyenne, WY. TIMEC Company, Inc. will be executing turnaround services at two units at Tesoro in Los Angeles, CA, with estimated value above the $2million mark. At the same facility, World-Wide Welding, Inc. will be providing services for an anticipated value of nearly $1million.

Among the recently completed jobs by the new TIMEC acquisition HRI, Inc. are fin fan repair on-line (work performed while the unit was running) at Marathon Petroleum in Robinson IL; on-line repairs at the plant unit 4 precipitator hopper at PNM Resources in San Juan, NM. Although most jobs performed by HRI, Inc. are usually completed in a few days, this assignment lasted a few weeks, from late July to mid/late August.

HRI, Inc. also provided hot repair services for CITGO Petroleum in Lemont, IL which involved a weld repair regenerator line at 1,000°F; and for Frontier Oil in El Dorado, KS where a 3/4” hole in and around 14" flange on the cyclone outlet line was fixed.

TIMEC and its parent company Transfield Services Ltd. are leading global providers of maintenance, turnaround and construction services in a diverse range of industries including oil and natural gas; petrochemical; water and wastewater; and food, among others. TIMEC, jointly with Transfield Services Ltd., has over 28,000 employees, working across the United States, Canada, Australia, New Zealand, the United Arab Emirates, Qatar, South East Asia, and India.