Stock Exchange Release
February 2, 2016 at 4:10 p.m.
Vaisala signs EUR 20 million contract
Vaisala has signed a EUR 20 million contract with National Hydro-Meteorological Service of Vietnam. The contract, that has been prepared over the past four years together with National Hydro-Meteorological Service, will come in force when the customer has given final approval for the technical design. Vaisala will report the contract in the order book after this approval. The deliveries will start after the contract has entered into force, and are scheduled to be completed within two years. The funding of the contract is arranged through the Finnish Concessional Credit instrument provided to National Hydro-Meteorological Service of Vietnam. This instrument is part of Finland's development cooperation portfolio, governed by the Ministry for Foreign Affairs of Finland.
In this project Vaisala will establish a high quality nation-wide meteorological infrastructure in Vietnam. The contract includes weather radar and lightning detection networks, software toolkit for weather forecasting supplied by the Finnish Meteorological Institute as well as training and spare parts. The weather radar network consists of five green-field dual polarization Doppler weather radars, a central site and upgrades to three existing weather radars.
"National Hydro-Meteorological Service of Vietnam is Vaisala's long-term customer. We have earlier delivered several weather systems to Vietnam, but this contract is more comprehensive and complex. Vietnam faces weather related challenges every year; typhoons, storms, floods and severe lightning. After establishing the meteorological infrastructure Vietnamese National Hydro-Meteorological Service will be able to serve the whole nation with high quality meteorological data and weather forecasts. This is Vaisala's largest contract. Finnish Concessional Credit to the buyer has enabled our Vietnamese customer to start this major meteorological infrastructure project", tells Kjell Forsén, Vaisala's President and CEO.
The contract will not have an impact on Vaisala's net sales and operating result (EBIT) for the financial year 2015. Vaisala will publish 2015 financial statements on February 10, 2016.
Kjell Forsén, President and CEO
Tel. +358 9 8949 2202
Vaisala is a global leader in environmental and industrial measurement. Building on 80 years of experience, Vaisala contributes to a better quality of life by providing a comprehensive range of innovative observation and measurement products and services for chosen weather-related and industrial markets. Headquartered in Finland, Vaisala employs approximately 1,600 professionals worldwide and is listed on the NASDAQ OMX Helsinki stock exchange. www.vaisala.com www.twitter.com/VaisalaGroup