MayAir secures $10.6m of new contracts

(ShareCast News) - MayAir, which provides air purification technology, has secured new contract wins in its industrial and commercial divisions with a combined value of $10.6m.The company said its industrial division was awarded a contract by China's Nanchang O-film Tech Co on 17 July for the supply and commissioning of its fan filtration units and for the provision of filters in a cleanroom environment, which is expected to generate around $5.3m of revenue.Also this month, the group's commercial division secured additional contracts expected to generate revenue of $5.3m. A number of these contracts, expected to be fulfilled in 2016, are to retrofit the offices of Huawei Technologies Co. Limited with MayAir's clean air and PM 2.5 monitoring systems in certain cities in China.The company has also entered into a contract with the state-owned Guangzhou Metro Corporation, to supply indoor clean air solutions for the new Subway Lines of the metro system of the city of Guangzhou in Guangdong Province of China, which are currently being built.Chief executive officer Yap Wee Keong said: "Following on from the $22.8m of contract wins that we announced at the beginning of June 2016, we are delighted to announce further contract wins totalling $10.6m secured in July 2016 across both our industrial and commercial divisions. "We are particularly pleased to secure additional contracts for customers in our commercial division where we have previously installed our clean air solutions at their other sites. 2016 to date has produced robust revenue growth and as a result, we look forward with much confidence."At 1032 BST, MayAir shares were up 15.4% to 44.99p.