21 February 2018
Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
Hayward Tyler secures contract from Korea Hydro & Nuclear Power
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 Hayward Tyler ("HT") has won a US$6.7 million contract from Korea Hydro & Nuclear Power ("KHNP"), a subsidiary of the Korea Electric Power Corporation ("KEPCO").
Hayward Tyler has been an original equipment supplier of pumps and spare parts to KHNP for over 40 years. This latest order, for spare parts to upgrade and refurbish existing Nuclear power plants, the largest HT has received from KHNP, takes the total value of orders received from this customer since completion of the Company's acquisition of the HT group in September 2017 to over US$10 million.
KHNP is a leading supplier of electricity to the South Korean energy market, responsible for approximately 40 per cent. of the country's electric power, and has over 20 operating nuclear plants. HT continues to support their operations with parts, units, and technical support through its nuclear quality program.
Mike Turmelle, Managing Director of the Hayward Tyler division, said: "This is a significant order for Hayward Tyler in the nuclear energy market. KHNP is a highly valued existing client and the size of this contract confirms HT's strong credentials in international energy markets.
"This important customer's commitment is a testament to the expertise and hard work of the HT team, while large contracts such as this continue to underline HT's status as a world class business in the international nuclear market."
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
Ed Treadwell James Browne |
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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