Hayward Tyler secures over $3m of new contracts

RNS Number : 8954A

Avingtrans PLC

17 September 2018

 

17 September 2018 

Avingtrans Plc

("Avingtrans" or the "Company" or the "Group")

Hayward Tyler secures over $3m of high temperature molten salt pump contracts

Avingtrans (AIM: AVG), which designs, manufactures and supplies critical components, modules and associated services to the energy and medical sectors is pleased to announce that it has recently secured over $3m worth of contracts related to molten salt applications in advanced nuclear and solar power technologies in the USA. 

The first set of contracts, worth approximately $2.4m, is for the design, manufacture and test of high temperature (>700^oC) molten salt pumps for advanced nuclear test facilities.  The second set of contracts relates to government funded projects worth approximately $1m to HT for the research and development of pumps to be deployed in both advanced solar and advanced nuclear test facilities.  In its entirety the total value of the government contracts for these packages is in excess of $2.5m with the share going directly to Hayward Tyler's project partners.  The development work and equipment will be provided by the team based in the HT facility in Colchester, Vermont, USA.

Hayward Tyler, owned by Avingtrans plc, has continuously supported the existing power generation markets with engineered pump solutions for decades and has maintained its commitment to the nuclear industry since the inception of the commercial nuclear market.  With the back drop of increasing energy demand and climate change challenges, these contracts reinforce the Hayward Tyler position as a global technology partner in the development of new low carbon energy solutions.

Mike Turmelle, President of the Engineered Pumps and Motors division, said: "These contracts for highly engineered design solutions to support advanced power generation technologies really highlight the depth of talent within our organisation.  I'm delighted for our USA team who continue to deliver engineering excellence in everything they do."

Steve McQuillan, CEO, added: "These contract wins are further evidence of the strength of Hayward Tyler in the market place and underpin the ongoing strategy across the group.  The nuclear market, across the whole fuel cycle, remains a key theme across both our Energy Divisions".

Enquiries:

Avingtrans plc Steve McQuillan, CEO Stephen King, CFO	0135 469 2391
N+1 Singer Shaun Dobson Lauren Kettle	020 7496 3000
Newgate Communications   (Financial PR) Adam Lloyd	020 7653 9850

About Avingtrans

Avingtrans is engaged in the provision of highly engineered components, systems and services to the energy, medical and traffic management industries worldwide.

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