TOYO was awarded a contract for FCC Project by Tosco

Toyo Engineering Corporation (TOYO, President Toshihiko Hirose), with the cooperation of its US subsidiary, Toyo U.S.A. Inc., was awarded a contract for a FCC (Fluidized Catalytic Cracking Unit) from Tosco Corporation of the U.S. TOYO participated in international tendering for the contract for this FCC Unit (30,000 BPSD) and peripheral facilities as part of Tosco's upgrade project at its Ferndale Refinery in Washington State, on the Northwest coast of the U.S. Agreement was recently reached and the contract was formally signed. TOYO's scope of work includes detailed design , procurement , and construction work on a turnkey basis. The construction will be performed by a local construction contractor under TOYO's management. The plant is scheduled to be completed at the end of January 2003.

Tosco Corporation is the largest independent refining company in the U.S., and it operates seven refineries in the U.S. (as of October 2000, producing a total of 1.35 million BPSD). This project is one aspect of the overall upgrade project for this refinery.

After pre-qualification screening in May this year , the actual tender bids for the project were submitted in August. TOYO was selected in part based on its extensive global experience in the field of FCC and RFCC units. Based on this achievement , TOYO is committed to an active sales drive in the U.S. to win more contracts for upgrading projects of refining companies in view of the urgent need in accordance with the Clean Air Act.