REG - Avingtrans PLC - Hayward Tyler Secures Nuclear Contracts worth $7m

AvingtransAnnouncement

11/04/2022 07:01

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RNS Number : 8587H  Avingtrans PLC  11 April 2022

11 April 2022

 

Avingtrans Plc

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

Hayward Tyler, Inc. Secures Two Nuclear Contracts worth $7m

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 Hayward Tyler, Inc has secured
two new nuclear contracts worth a total of US $7m, to be completed before June
2023, from a South Korean customer Korea Hydro & Nuclear Power.

These contracts are to provide critical nuclear safety related spare parts to
reactors in South Korea for Nuclear Service Cooling pumps. 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.

Hayward Tyler Inc. continues to support global nuclear operations with parts,
units, service, and technical support through its team of nuclear
professionals and the underlying nuclear quality program.

These two contracts are strategically significant and illustrative of the
strong momentum Hayward Tyler is enjoying in the South Korean market which it
increasingly sees as a growing opportunity for the business.

Mike Turmelle, Managing Director of the Engineered Pumps and Motor division
said:

"Support to the global nuclear power industry continues to be a key part of
the Hayward Tyler business. The Hayward Tyler team are proud to be part of
this essential supply chain and dedicated to the reliability and safety that
is required of the systems our pumps operate in."

Steve McQuillan, CEO of Avingtrans, commented:

"We are delighted to have been awarded these contracts in a key geography for
Hayward Tyler. Both the new political environment in South Korea and global
sentiment towards nuclear power are of significant importance to HT as more
nuclear plants will be in need of critical nuclear safety related spare parts.
We are hopeful that this will lead to further orders in due course."

 

 

Enquiries:

 Avingtrans plc                                         01354 692391
 Roger McDowell, Chairman

 Steve McQuillan, Chief Executive Officer

 Stephen King, Chief Financial Officer

 Singer Capital Markets (Nominated Adviser and Broker)  02074 963000
 Shaun Dobson

 Alex Bond

 Oliver Platts

 Rachel Hayes

 IFC Advisory (Financial PR)                            020 3934 6630
 Graham Herring

 Tim Metcalfe

 Zach Cohen

 

 

 

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

 

 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.

 Energy Steel, Inc - Rochester Hills, Michigan, USA

 Energy Steel, part of the Engineered Pumps and Motors Division of Avingtrans
 plc, has been serving the nuclear power industry since 1982 with capabilities
 in equipment fabrication, material supply, precision machining, engineering,
 and repair services. Through strategic OEM partnerships, it also provides
 solutions for obsolete nuclear components and support for the most complex
 projects.

 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.

 Booth Industries - Bolton, UK

 Designs, manufactures, installs and services doors and walls which can be
 tailored to be: blast &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

 Composite Products Ltd - Buckingham, UK

 Centre for composite technology, parts and assemblies, serving customers in
 industrial markets.

 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.

 

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