REG-HMS Group HMS and NOVATEK sign Memo on localization of LNG equipment

HMS Hydraulic Machines & SystemsAnnouncement

01/10/2019 15:45

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   HMS Group (HMSG)
   HMS and NOVATEK sign Memo on localization of LNG equipment

   01-Oct-2019 / 17:43 MSK
   Dissemination of a Regulatory Announcement that contains inside
   information according to REGULATION (EU) No 596/2014 (MAR), transmitted by
   EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   HMS Hydraulic Machines & Systems Group plc
   (the "Company", and together with its subsidiaries, the "HMS Group")

    

    

   HMS Group and NOVATEK sign Memorandum on localization of LNG equipment

    

   Moscow, Russia - October 1, 2019

    

   HMS Group announces today that the company and PAO NOVATEK ("NOVATEK")
   (the "Parties") signed a Memorandum on strategic partnership, which aims
   the further development of mutual cooperation in a field of design and
   manufacture of first-of-its-kind-in-Russia equipment for LNG projects.

    

   The Memorandum sets the general principles and main directions of mutually
   beneficial cooperation.  It composes the long-term intention of the
   Parties to pursue a wide-scale cooperation to localize the manufacturing
   of compressors, pumps and other equipment for NOVATEK's LNG projects.

    

   Taking into account a successful experience of cooperation between HMS
   Group and NOVATEK on design and manufacture of the key compressor-based
   equipment under the "Arctic cascade" technology (home-grown technology of
   natural-gas liquefaction, which was developed by NOVATEK), the Parties
   fixed their mutual interest in cooperative development of new types of
   high-performance equipment for natural-gas liquefaction as well as further
   localization of equipment for large-capacity LNG projects and their
   raw-material base.

    

   Prioritized directions of cooperation, fixed in the Memorandum, comprise
   design, manufacture and testing of hi-tech pumping and compressor
   equipment, including submersible cryogenic LNG-unloading pumps, as well as
   column, heat-exchanging and vessel equipment for natural-gas treatment and
   liquefaction units.

    

    

   For more information, please, contact:

   Inna Kelekhsaeva, Deputy Head of Capital markets, on telephone: +7 (495)
   730-6601, or email:  1 capital-markets@hms.ru

   Alexander Rybin, Head of Capital markets, on telephone: +7 (495) 730-6601,
   or email:  2 capital-markets@hms.ru

    

   About HMS Group

   HMS Group is the leading pump and compressor manufacturer, as well as the
   provider of flow control solutions and related services for the oil and
   gas, petrochemistry, nuclear and thermal power generation, water and
   wastewater sectors in Russia and the CIS headquartered in Moscow, Russia.
   HMS Group's products are mission-critical elements of projects across a
   diverse range of industries. HMS has a listing on the London Stock
   Exchange in the form of global depositary receipts (LSE: HMSG).
    3 http://ar2018.grouphms.com

    

   Press Release Information Accuracy Disclaimer

   Information published in press releases was accurate at the time of
   publication but may be superseded by subsequent releases or other
   information.

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   ISIN:           US40425X4079
   Category Code:  AGR
   TIDM:           HMSG
   LEI Code:       254900DDFETNLASV8M53
   OAM Categories: 2.2. Inside information
                   3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   21960
   EQS News ID:    883761


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:capital-markets@hms.ru
   2. mailto:capital-markets@hms.ru
   3. https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=6cde9233abd1f5907c515abe8eed3280&application_id=883761&site_id=reuters8&application_name=news


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