BRH Update4 Aug 2020 08:11
Gyrometric Systems Limited
Gyrometric Systems Limited ("Gyrometric"), in which the Company owns an 18% interest, continued to make sales in its established marine drives market, having received further orders from a global leader in developing, producing and marketing innovative system solutions for marine propulsion systems. The client, Vulcan Couplings, is a market and technology leader in the development of highly flexible couplings, shaft systems and elastic mounts. The orders demonstrate commercial rollout of the Gyrometric product with a market leader and is a testament to the quality of the Gyrometric offering.
Gyrometric had expected to conduct trials for two major wind turbine manufacturers however, progress on these projects has been significantly slower than expected as the priorities of these manufacturers changed.
To reduce dependence on projects with long lead times, Gyrometric refocused its sales efforts to develop new markets, where the lead times are expected to be shorter and the opportunities more immediate. As a result, Gyrometric announced contracts with several companies including Tarmac and Clarke Energy.
In addition, the Company made new offerings, including a Universal Bearing Monitor, a Laser Sensor and the Absolute Dynamic Shaft Alignment ("ADSA") system. ADSA enables any builder or owner of large rotating equipment to install Gyrometric's equipment, use it to align the shafts initially, and then leave it in place to monitor conditions during the life of the asset, and when misalignment occurs, use it to measure and correct the shaft alignment absolutely.
The Memorandum of Understanding with Turkish company Gani Gemi Ve Is Makinalari Tic. Ltd ("Gani") is now bringing Gyrometric's products to the marine market in Turkey and neighbouring countries, where Gani is a leading installer of engines and other heavy equipment for both ship and rail industries.
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