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RNS Number : 8587H Avingtrans PLC 11 April 2022
11 April 2022
("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
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
"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."
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
IFC Advisory (Financial PR) 020 3934 6630
About Avingtrans plc:
Avingtrans designs, manufactures and supplies original equipment, systems and
associated aftermarket services to the energy, medical and industrial markets
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
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
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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