KBC Advanced Tech wins multi-million dollar contract with Russian refiner

15th Sep 2015 08:13

(ShareCast News) - KBC Advanced Technologies has been awarded a multi-million dollar reliability and maintenance contract from an unnamed Russian refining company.KBC, which is a consultancy and software provider to the hydrocarbon industry, said this was the largest contract it has even won in the former Soviet Union and the largest reliability and maintenance project in the group's history.Chief commercial officer Kevin Smith said: "We are delighted to have been awarded this contract which demonstrates KBC's ability to secure major bottom line benefits for its clients during difficult economic conditions within the oil industry. Looking forward, we see this as a stepping stone to expanding our footprint within Russia and the FSU."It said that together with other recently-announced contract wins, this award gives the company confidence in its expectations for 2015.At 0818 BST, KBC shares were down 3.9% at 111p.