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Tinci Holdings chalks up new contract for sulphur dioxide capture with Xinfa Aluminium Industry Group

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Shares in Tinci Holdings (LON:TNCI), a specialist in capturing sulphur dioxide emissions from coal fired power plants and other industrial boilers, surged 75% after the company announced a new contract valued a RMB 54.5 million (approximately £5.4 million, or US$8 million). The contract win is valued a more than the group’s entire turnover in the first six months of 2009, though Tinci Holding does tend to announce large, lumpy contracts due to the nature of its business.

Earlier this month, the company was forced to announce that it knew of no reason why its share price had begun to rise quite strongly. Needless to say it appears the market got wind of the possibility of a large contract win.

The RMB 54.4 million contact will see Tinci Holding install two Flue Gas Desulfurisation (FGD) systems at operations owned by Shandong Chiping Xinyuan Aluminum Co Ltd, a subsidiary of Xinfa Aluminum Industry Group.   It will be the 20th project awarded to Tinci Holdings by Xinfa Aluminum in the past five years.

Quick facts: Tinci Holdings

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AIM:TNCI
Market: AIM
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