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Avingtrans Plc's US-based subsidiary, Hayward Tyler Inc., secured two new nuclear contracts with a combined value of over $16m from Korea Hydro & Nuclear Power (KHNP). The contracts cover the supply of complete safety-related pumps and performance-critical spare parts for nuclear reactors in South Korea. Completion and delivery are expected by the end of FY27, with revenue predominantly weighted towards FY27 and a portion underpinning FY26 forecasts.
| Date | 2 Sept 2025 |
| Time | 07:00:02 |
| Category | Corporate updates |
| ID | 5232X |
2 September 2025
Avingtrans Plc
("Avingtrans", the "Company", or the "Group")
Hayward Tyler Secures $16m Nuclear Contracts
Avingtrans Plc (AIM: AVG), which designs, manufactures and supplies critical components, modules, systems and associated services to the energy, medical and industrial sectors, is pleased to announce that its US-based subsidiary, Hayward Tyler Inc., has secured two new nuclear contracts with a combined value of over $16m from long-term existing customer Korea Hydro & Nuclear Power (KHNP) (the "Contracts").
The first contract covers the supply of complete safety-related pumps for nuclear reactors in South Korea. The second contract involves the provision of a range of performance-critical spare parts to KHNP. Both contracts will be manufactured at Hayward Tyler's facility in Colchester, Vermont, with completion and delivery expected by the end of FY27.
Revenue from the Contracts will predominantly be weighted towards FY27 with a portion of value helping to underpin FY26 forecasts.
Duncan Morgan, Group Managing Director of Hayward Tyler, commented: "These contracts are strategically significant for our business and illustrate the strong momentum we are enjoying in the South Korean market, which is a growing opportunity for us. As an original equipment supplier of nuclear pumps and spare parts to the global nuclear industry for over 50 years, the nuclear power industry is a key part of our operations. We are proud to be part of an essential supply chain that ensures the reliability and safety of nuclear systems worldwide, and we hope these new contracts will lead to further South Korean orders in due course."
Austen Adams, Managing Director of Avingtrans' Advanced Engineering Systems division added: "We are pleased to have been awarded these contracts in what is a key geography for Hayward Tyler. Both the new political environment in South Korea and renewed global sentiment towards nuclear power are strategically important to our business, as demand for critical nuclear safety systems and related spare parts and services grows worldwide. With its strong heritage in the sector, and proven track record across highly regulated, performance-critical industries, Hayward Tyler is well placed to support global nuclear operations with parts, units, service and technical expertise delivered by our experienced, in-house team and leading nuclear quality programme."
Enquiries:
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Avingtrans plc |
01354 692 391 |
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Roger McDowell, Chairman Steve McQuillan, Chief Executive Officer Stephen King, Chief Financial Officer
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Singer Capital Markets (Nominated Adviser and Broker) |
020 7496 3000 |
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Sara Hale Alex Bond Oliver Platts |
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IFC Advisory (Financial PR) |
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About Avingtrans plc:
Avingtrans designs, manufactures and supplies original equipment, systems and associated aftermarket services to the energy, medical and industrial markets worldwide.
Business units
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Hayward Tyler - Luton, East Kilbride UK, USA, China and India Specialises in the design, manufacture and servicing of performance-critical motors and pumps for challenging environments. Energy Steel, Inc - Rochester Hills, Michigan, USA Provider of custom fabrications for the nuclear industry, specialising in: OEM parts obsolescence; custom fabrications; engineering design solutions; product refurbishment; on-site technical support. Stainless Metalcraft Ltd - Chatteris, UK 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. Booth Industries - Bolton, UK Designs, manufactures, installs and services doors and walls which can be tailored to be: blast and explosion proof; fireproof; acoustically shielded; high security/safety; or combinations of the above. Ormandy Group - Bradford, UK Design, manufacturers and servicing of off-site plant, heat exchangers and other HVAC (heating, ventilation and air conditioning) products. Slack & Parr - Kegworth, UK, USA & China Design, manufacture and servicing of high-precision gear metering pumps, hydraulics flow dividers and industrial pumps. Composite Products Ltd - Buckingham, UK Centre for composite technology, parts and assemblies, serving customers in industrial markets. Adaptix Ltd - Oxford, UK Adaptix has developed novel 3D X-ray for Orthopaedic and Veterinary applications amongst others. Commercialisation of this system (and others) is on-going. Magnetica Ltd - Brisbane, Australia Magnetica Limited specialises in the development of next generation MRI technologies, including dedicated extremity MRI systems and MRI system components. Magnetica has successfully built and tested a compact, integrated 3 Tesla orthopaedic MRI system, demonstrating clinical-quality imaging. Commercialisation of this system (and others) is on-going. Magnetica's structure now includes two other business units: Scientific Magnetics - Abingdon, UK Designs and manufactures superconducting magnet systems and associated cryogenics for a variety of markets including MRI and provides services for Nuclear Magnetic Resonance instruments. Tecmag Inc - Houston, USA Designs, manufactures and installs instrumentation, including consoles, system upgrades, and probes, mainly for Magnetic Resonance Imaging (MRI) and Nuclear Magnetic Resonance (NMR) systems. |