Hms Hydraulic S Share Price (HMSG)

HMS GROUP ANNOUNCES RUB 1.6 BN CONTRACT FOR THE OIL TREATMENT PLANT CONSTRUCTION ON DULISMA OIL & GAS CONDENSATE FIELD Moscow, Russia – July 24, 2012 – HMS Group (LSE: HMSG), the leading pump manufacturer and provider of flow control solutions and related services in Russia and the CIS, announces today that it has signed a contract worth Rub 1,578 mn (c. US$ 49 mn). In accordance with the contract, HMS will provide a wide range of construction and engineering works including construction of the second stage of an oil treatment station, the second stage of an oil custody transfer point, a fuels-lubes storage, a fuel filling station and other infrastructure facilities on the Dulisma oil and gas condensate field, located in Irkutsk region of Russia. The Group’s operating facilities will produce a significant share of the specialist equipment to be embedded under the project. HMS will provide commissioning by the end of 2013. Previously, HMS participated in the first stage of the oilfield development project and constructed the first stage of a crude oil delivery and acceptance point.

http://www.investegate.co.uk/Article.aspx?id=20120724120000Z6420

Good results today - Like their Oil services involvement mmm..

Interesting - need to read more here

Artem Molchanov, Managing Director (CEO) of HMS Group, commented: “The acquisition of DGHM is perfectly consistent with our growth strategy in the most appealing markets with positive fundamentals. Through this acquisition we gained adjacent products that would enhance our existing product offering. This will allow us to provide complex solutions for strategically important projects implemented by our customers. Moreover, having acquired the healthy company with strong financials, we retained a sound balance sheet that would support our further growth initiatives.”