Hayward Tyler Secures New Contracts worth $6m

RNS Number : 5672U

Avingtrans PLC

01 April 2019

 

1 April 2019

Avingtrans

("Avingtrans" or the "Company")

Hayward Tyler Secures New Nuclear Contracts worth $6m

Avingtrans PLC (AIM: AVG), which designs, manufactures and supplies original equipment, systems and associated aftermarket services to the energy and medical sectors, is pleased to announce that its business unit, Hayward Tyler, has secured two new contracts worth over US $6m from US and South Korea customers.

The contracts are to provide critical pumps and spare parts to nuclear reactors in the US and South Korea for Essential Service Water pumps. The US contract is with one of the country's leading nuclear operators and is a significant increase in size of contract for this particular customer, so represents an important breakthrough for the Company. Hayward Tyler has been an original equipment supplier of nuclear pumps and spare parts to the global nuclear industry, including Korea Hydro & Nuclear Power, for over 50 years.

These latest orders, for spare parts and pumps to upgrade and refurbish existing nuclear power plants, takes the total value of nuclear orders received this financial year to US $14m. Hayward Tyler Inc., located in Vermont USA, continues to support global nuclear operations with parts, units, and technical support through its team of nuclear professionals and the underlying nuclear quality program.

Mike Turmelle, Managing Director of the Engineered Pumps and Motor division, said: "Support to nuclear power station operators across the globe is a key part of the Hayward Tyler business.  We are dedicated to supporting our international nuclear customers to drive down operating cost as well as increasing the reliability and safety of the systems that our pumps operate in.  The nuclear industry must continue to deliver affordable, safe, low carbon energy as part of a balanced global energy solution.  The whole team at Hayward Tyler are proud to be part of the nuclear supply chain and this order is testament to their dedication, professionalism and long-term commitment to the industry."

ENDS

Enquiries:

Avingtrans plc Steve McQuillan, CEO Stephen King, CFO	0135 469 2391
N+1 Singer (Nomad and Broker) Shaun Dobson/Lauren Kettle (Corporate Finance) Mia Gardner/Rachel Hayes (Corporate Broking)	0207496 3000
Newgate Communications (Financial PR) Adam Lloyd Tom Carnegie	020 7653 9850

About Avingtrans

Avingtrans designs, manufactures and supplies original equipment, systems and associated aftermarket services to the energy, medical and industrial markets worldwide.

Business units

Hayward Tyler - Luton & East Kilbride, UK and USA, China and India Specialises in the design, manufacture and servicing of performance-critical motors and pumps for challenging environments. Stainless Metalcraft Ltd - Chatteris, UK and Chengdu, China

Provider of safety-critical equipment for the energy, medical, science and research communities, worldwide, specialising in precision pressure and vacuum vessels and associated fabrications, sub-assemblies and systems. Maloney Metalcraft Ltd - Aldridge, UK

Designs, manufactures and services oil and gas extraction and processing equipment, including process plant for dehydration, sweetening, drying and compression. Ormandy Group, Bradford, UK Design, manufacturers and servicing of off-site plant, heat exchangers and other HVAC (heating, ventilation and air conditioning) products Peter Brotherhood - Peterborough, UK Specialises in the design, manufacture and servicing of performance-critical steam turbines, turbo gen-sets, compressors, gear boxes and combined heat and power systems.

Composite Products Ltd - Buckingham, UK Centre for composite technology, parts and assemblies, serving customers in industrial markets. Scientific Magnetics - Abingdon, UK Designs and manufactures superconducting magnet systems and associated cryogenic systems for a variety of markets including MRI and provides service and support for Nuclear Magnetic Resonance instruments. Tecmag Inc, Houston, USA Designs, manufactures, tests and installs instrumentation, including full consoles, system upgrades, and solid-state probes, mainly for Magnetic Resonance Imaging (MRI) and Nuclear Magnetic Resonance (NMR) systems. Crown International Ltd - Portishead, UK Designs and manufactures market-leading pole and support systems for roadside signage and safety cameras, rail track signalling and gantries.

 

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