Orpak Industries (1983) Ltd. (AIM:ORPK) has won follow-on order from Shell Turkey for the supply of 1,100 tank automation and 400 pump automation systems. Orpak's Turkish subsidiary, Turpak, will handle the deal. Orpak's share of the $18 million contract amounts to $5.5 million, with the rest going to subcontractors.
Two weeks ago, Orpak chairman Alex Milner told "Globes", "Orpak has a near monopoly in Turkey."
Orpak's FuelOmat is a card-free secure fuel payment system based on vehicle identification. The company also develops end-to-end solutions for the automation of fuel stations. The new contract is due to be completed during 2009. Orpak owns 60% of Turpak.
Shell Turkey has been an Orpak customer since 1994. It also works with the Turkish subsidiaries of BP plc (NYSE; LSE: BP) and Total SA (NYSE; Euronext: TOT). Last month, the company won a contract with Russia's LUKoil to equip its network of 630 gas stations with tank automation, site automation, and C-store management system.
Orpak has installed its systems at 4,262 gas stations in Turkey to date, the FuelOmat has been installed in 433,000 vehicles, and 16,000 fiscal terminals have been installed.
Orpak's share was unchanged today at ₤0.89, giving a market cap of ₤29.6 million.
Published by Globes [online], Israel business news - www.globes-online.com - on December 30, 2008
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008