Last checked at 2 Nov 2016 12:08
HMS Hydraulic Machines & Systems Group plc (the “Company”, and together with its subsidiaries, the “HMS Group”)
HMS Group signs 9 million Euro API pumps contract
Moscow, Russia – November 2, 2016 - HMS Group (LSE:HMSG) announces today that it has signed a 9 million Euro contract for delivery of oil refining pumps according to the API 610 international standard.
Mr. Kirill Molchanov, CFO and First deputy general director of HMS Group, comments:
“The distinctive and strategically important for HMS feature of this milestone contract is that the project is managed by a top international engineering company, which serves as a customer engineer under its EPS (Engineering and Procurement Services) contract with a Russian customer. This means that HMS has successfully entered a separate and additional for HMS market for projects of international engineering contractors in Russia. The market makes up a substantial part of Russia’s oil & gas downstream capex. Prospective projects of such kind in the pipeline is a factor for further sales of HMS in this relatively new for us market segment.”
HMS will produce and deliver more than 50 centrifugal API pumps of different designs for an atmospheric crude distillation unit/vacuum distillation unit, installed at one of Russia’s largest high-tech oil refining plant, located in Western Siberia. The project is to be completed in the first half of 2017.
For more information, please contact:
Inna Kelekhsaeva, Deputy Head of Capital markets, on telephone: +7 (495) 730-6601, or email: kelekhsaeva@hms.ru
Anna Obotnina, Head of Marketing communications, on telephone: +7 (495) 730-66-01 x (600)3304, or email: obotnina@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).
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