Glossary

Advanced process control
Generic term for different control strategies; ANDRITZ mainly uses model-based controllers (e.g. BrainWave^®) for complex control tasks.

Annealing
Process in which metal is heated, retained at a suitable temperature, then cooled rapidly or slowly to reduce internal stress. As a result, the metal becomes softer and more workable, particularly in cold processes.

Annual General Meeting
Body of a stock company which usually meets once a year and takes resolutions on important company matters according to company law.

Approach equipment/flow system
Feeding system that provides stable feeding conditions for the paper/board machine.

ATX
Austrian Traded Index
Price index calculated by the Vienna Stock Exchange, containing the most actively traded shares on the Vienna Stock Exchange. The ATX comprises approximately 20 shares, weighted in the index according to market capitalization and free float.

ATXPrime
Price index calculated by the Vienna Stock Exchange and containing all the shares of the ATXPrime market segment (see ‘Prime market’).

AWP
ANDRITZ Wash Press
Equipment for pulp washing and dewatering.

Biomass power boiler
Power boiler in which biomass is used as fuel. High-pressure tubes, in which water circulates, are part of these furnaces. By burning the biomass, the water is heated to steam phase – the steam drives turbine-generators to produce electricity, or is used for heating purposes.

Black liquor
Mixture of spent cooking chemicals and dissolved wood material remaining after sulphate cooking. Black liquor is recovered during pulp washing, concentrated by evaporation, and burned in the recovery boiler to regenerate the cooking chemicals and also to produce energy for the mill.

Calender
In paper, nonwovens, and textile production, machine with one or several rolls, which causes certain profile and surface properties in web materials (gloss, strength, roughness).

Coating
In paper production, process through which the surface of paper or board is closed by chemical substances or a color coat.  This improves certain properties (e.g. the printability of paper) significantly and prepares the material for certain uses.

Cold-rolled strip
Cold-rolled stainless steel has been subjected to several processes after hot rolling including annealing, pickling, reduction rolling (cold rolling), and further thermal and surface treatment steps. These process steps serve to adjust the technological characteristics (corrosion resistance, temperature resistance, cold forming capability, etc.).

Compact bulb turbine
Special form of Kaplan turbine; generator and turbine in one housing directly in the flow current.

Condensate stripping system
A distillation system for treating evaporator foul condensate; removes methanol and TRS (Total Reduced Sulphur) compounds that would prevent water reuse. In modern mills, an integral part of an evaporation plant.

Cooking
Process to produce pulp (fibers) for papermaking. Wood chips or other cellulosic materials are treated in a pressure vessel with chemicals under elevated pressure and temperature. Reactions dissolve lignin (‘glue’) and liberate the fibers from the wood matrix without using mechanical action.

Corporate Governance code
Set of rules for companies that provides a regulatory framework for responsible company management and control. It is a yardstick for good corporate governance.

DD washer
Drum Displacer^® washer
This washer can be used in all fiberline process stages to separate the waste liquor that is generated during cooking and that contains dissolved wood and chemicals from the stock. It is a pressurized multistage washer which can include as many as four stages.

Deinking
A process in which most of the ink, filler, and other extraneous material is removed from printed and/or unprinted recovered paper. The result is a pulp which can be used in the manufacture of new paper, including tissue, printing, writing, and office papers.

Delignification
Removal of lignin from wood fibers. This is performed primarily in the cooking process and further carried out in the washing and bleaching process. In bleaching, ECF pulp mills use chlorine compounds (chlorine dioxide) for this process, although it can be achieved with oxygen, hydrogen peroxide, or ozone (which do not create organo-chlorines).

DIP
Deinking Pulp
Pulp produced from deinked wastepaper, like old newsprint and old magazines.

Dividend
That part of a company’s profits paid out to the shareholders. The amount of the dividend is proposed by the Executive Board of a company and approved in a resolution by the Shareholders’ Meeting.

EBITA
Earnings before Interest, Taxes, and Amortization of goodwill
This earnings measure is of particular interest in cases where companies have high goodwill. EBITA is a good measure of comparing companies within one industry.

EBITA margin
Financial figure that calculates the EBITA in relation to sales and states the profitability over a specific period.

EPC
Engineer Procure Construct
A project delivery where one supplier assumes total responsibility for product and project engineering, equipment and construction procurement, and on-site construction.

Equity ratio
The equity ratio indicates the proportion of equity capital in a company’s total assets (balance sheet total).

Evaporation plant
System for removing water from black liquor so that it can be efficiently burned in a recovery boiler. At the same time, the evaporated water is segregated and cleaned for reuse in the pulp mill processes.

Ex-dividend
The price of the share is lowered by the amount of the dividend a few days before the dividend is paid out.

Extruder
A continuous process in which animal feed components are cooked under pressure in a combination of frictional and steam heat in order to expand the resulting product and convert it into feed granulate. This process is very common in the production of pet food, fish feed, and cereals.

Fiberline
The machines and process systems involved in converting wood chips into pulp. Process steps can include cooking, washing, screening, knot separation, refining, and bleaching.

Fluidized bed drying
Thermal process causing free-flowing products such as plastics, chemicals, etc., or sludges to float due to gas or air infeed and to dry by intensive material and heat transfer between the fluidizing gas and the product.

Francis turbine
This reaction turbine is the most widely used and most universal type of water turbine; used primarily in run-of-river and storage power stations with medium flow rate and medium head.

Free float
The proportion of a company’s shares that is traded on the stock market and is not held by investors with a very long-term interest in the company.

Gasification
Gasification is a process for converting carbon-containing feed stocks, such as coal, petroleum, or biomass, into gas by causing the raw material to react with a controlled amount of air, oxygen, and/or steam at high temperatures.

Gravitel
Process developed by ANDRITZ, used for electrolytic galvanizing of steel strip.

HDPE
High Density Polyethylene
Synthetic material used for pressure pipes and industrial coatings.

HERB
High Energy Recovery Boiler
This boiler increases the electricity generation from black liquor compared to conventional recovery boilers. This is achieved by increasing the steam temperature and pressure, and by preheating the combustion air and feed water.

Hot-rolled strip
Hot-rolled stainless steel strip is material resulting from the rolling of slabs or other input materials at high strip temperatures (approximately 700-1,000° C).

IFRS
International Financial Reporting Standards
International accounting standards drawn up by the International Accounting Standards Board (IASB). Complying with IFRS should enable investors and other relevant stakeholders to better compare annual accounts presented by companies from different countries.

Investor Relations
Interface between the company and the financial community. An Investor Relations department should regularly provide transparent, comprehensive, and up-to-date information on developments within the company to shareholders, financial analysts, and investors.

ISIN
International Securities Identification Number
Individual identification number of a security, enabling computerized international registration of a security.

Kaplan turbine
Water turbine with axial inward flow and adjustable runner, used in river power stations with high flow rate and low head.

Lime kiln
A long, slowly rotating kiln used to reburn lime mud (calcium carbonate) to form calcium oxide, which is reused in recausticizing.

Market pulp
Pulp sold on the open market, as opposed to that which is produced for internal consumption by an integrated paper mill.

MDF
Medium Density Fiberboard
Board made of mechanical pulp from the refiner process.

Mechanical pulp
A generic term describing pulp produced by a mechanical (as opposed to a chemical) process. Also known as ’high-yield’ pulp as the processes utilize a higher proportion of the raw material (wood) than the chemical processes. Mechanical pulp is produced using either grinders or refiners. It is principally used in the production of newsprint, magazine papers, printing papers, specialty papers, tissue, towelling, paperboard, and wallboard.

NBSK
Northern Bleached Softwood Kraft
Pulp that is mainly produced in Canada and the Nordic countries but also, to some extent, in the northwestern USA and Russia. Benchmark grade of pulp for pricing and inventory data.

Net liquidity
Liquid funds plus fair value of interest rate swaps minus financial liabilities.

Nonwovens
Flat textile structure consisting of single fibers bound together by such processes as thermal bonding, solidification by water jet, chemical bonding, or ultrasonic solidification. Nonwovens contrast with paper in that they lack the hydrogen bonds that give paper its strength.

OCC
Old Corrugated Containers
System for preparation of Old Corrugated Containers.

Pelton turbine
Impulse turbine used in storage power stations with low flow rate and large head in lower and in high mountain ranges.

Pickling
Process for chemical treatment of oxidized steel, applied to obtain a clean metallic surface. Here, the steel is dipped into a hot bath of diluted sulphuric or hydrochloric acid.

Power boiler
Steam boiler used for heat and/or electricity generation from a variety of fuels, e.g. coal, gas, biomass. ANDRITZ power boiler technology uses biomass fuels and is based on Bubbling Fluidized Bed (BFB) technology.

Prime market
Market segment of the Vienna Stock Exchange which contains stocks that are admitted to listing on the official market or semi-official market and meet special additional listing criteria.

PrimePress X
Shoe press used for dewatering in paper machines that is capable of extracting large amounts of water from the material while preserving the bulk.

Pyromars
When pickling stainless steel, a waste acid solution is produced containing hydrofluoric and nitric acid. This mixed acid is recovered in the Pyromars plant. The waste solution is thermally decomposed. The acid gases resulting from the process are absorbed in water and reused in the pickling plant. Mixed oxide (iron/chromium/nickel) is a by-product that can be reused in the stainless steel melt.

Recovery boiler
The recovery boiler is a steam boiler where the black liquor from the cooking process is burned after it has been concentrated in the evaporation plant. The residual biomass (lignin) is burned and the inorganic chemicals are recovered and returned to the pulp mill chemical cycle. Simultaneously, combustion of the biomass generates steam to produce electricity and heat for the pulp mill.

Refiner
Machine used to grind pulp between two discs. Refiners can operate at low consistency or at higher consistencies. At low consistencies, the material is fed to the refiner using a pump. At higher consistency levels, conveying devices are used. Other refiner types are used for breaking down wood chips into fibers.

Regeneration system
The hydrochloric waste acid solution from carbon steel pickling is recovered in the regeneration system. The waste solution is thermally decomposed. The acid gas resulting from the process is absorbed in water and reused in the pickling plant. Iron oxide is a by-product that is reused in various applications such as ferrite production.

RTS TMP
TMP process which reduces the specific refining energy by approximately 10-20% compared to conventional processes. The wood chips are subjected to high temperature (T) over a short time (R: Retention); the refiner is operated at high speed (S: Speed).

SCADA
Supervisory Control and Data Acquisition
Centralized/decentralized systems that monitor, visualize, control, and regulate the entire equipment and technical processes.

TMP
Thermo-Mechanical Pulp
Pulp produced by refining chips in a refiner at high temperature and pressure. The process relies mainly on mechanical energy and heat. TMP is most commonly used in newsprint and magazine papers.

TOC
Total Organic Carbon
Limit value used to determine the total emission of organic hydrocarbon compounds.

Treasury
Company department that deals with allotment and investment of existing or incoming funds and with the monitoring and hedging of financial risks.

WAPUR
Waste Acid Purification
Process for separating chemical contaminants from the waste solution from carbon steel pickling plants. This cleaning process ensures that high-grade iron oxide can be produced in the regeneration system.

WBI
Wiener Börse Index – Vienna Stock Exchange Index
The WBI contains all shares listed on the official market and the semi-official market. The WBI, as the overall index, reflects the development of the Austrian stock market as a whole.

White liquor
A strongly alkaline solution used in the cooking (digesting) process.