Last checked at 29 Jul 2013 13:50
HMS GROUP TO PROVIDE PUMP-BASED SOLUTIONS FOR ZAPOLYARYE – PURPE PIPELINE
Moscow, Russia – HMS Hydraulic Machines & Systems Group PLC (LSE: HMSG), today announces that it has concluded the agreement with Transneft for production and delivery of 8 trunk pipeline pump units for 2 pump stations of the Zapolarye – Purpe Oil Pipeline totaled Rub 1.5 bn (USD 47 mln). The 500 km pipeline located in Yamalo-Nenetsk region and has the projected capacity of 45 mln tonnes of oil per year.
According to the contract the Group will provide a wide scope of works and services including production, testing and delivery of trunk pipeline pump units, booster pumps units, delivery of spare parts, as well as assembling and commissioning on the customer’s sites. The project will be executed in harsh arctic environmental conditions, including permanent frost areas, which required a development of customized technological solutions in accordance with strict client’s requirements.
Previously, HMS Group participated in a number of projects in the oil transportation infrastructure development, including East Siberia – Pacific Ocean pipeline, Purpe-Samotlor and Baltic Pipeline System.
Artem Molchanov, Managing Director (CEO) of HMS Group, commented:
“I’m proud to say that we regularly prove our capability to successfully execute the most technologically demanding projects, which shape a future of the Russian oil industry and continue an effective cooperation with our key customer.“
The HMS Group is the leading pump and compressor manufacturer, as well as provider of flow control solutions and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors in Russia and the CIS. The HMS Group’s products are key elements of projects in a diverse range of basic industries. The Group reported revenues of RUB 7.3 billion, adjusted EBITDA of RUB 854 million and profit for the period of RUB 26 million for the 3 months ended March 31, 2013. The HMS Group’s global depositary receipts (“GDRs”) are listed under the symbol “HMSG” on the London Stock Exchange.
For further information, please contact:
| Sergey KlinkovHead of IRTel: +7 (495) 730-66-01, ext. 1302klinkov@hms.ru | Nozima KarimovaHead of Press ServiceTel: +7 (495) 730-66-10karimova@hms.ru |
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THIS COMMUNICATION DOES NOT CONSTITUTE AN OFFER OF, OR THE SOLICITATION OF AN OFFER TO BUY OR SUBSCRIBE FOR, GDRs OR OTHER SECURITIES TO ANY PERSON IN ANY JURISDICTION TO WHOM OR IN WHICH SUCH OFFER OR SOLICITATION IS UNLAWFUL AND, IN PARTICULAR, IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE RUSSIAN FEDERATION.
THIS ANNOUNCEMENT IS NOT AN OFFER FOR SALE OF ANY SECURITIES IN THE UNITED STATES. SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THE HMS GROUP HAS NOT REGISTERED AND DOES NOT INTEND TO REGISTER ANY PORTION OF ANY OFFERING IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING OF ANY SECURITIES IN THE UNITED STATES.
THIS ANNOUNCEMENT CONTAINS STATEMENTS ABOUT FUTURE EVENTS AND EXPECTATIONS THAT ARE FORWARD-LOOKING IN NATURE. ANY STATEMENT IN THIS ANNOUNCEMENT THAT IS NOT A STATEMENT OF HISTORICAL FACT IS A FORWARD-LOOKING STATEMENT THAT INVOLVES KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS TO DIFFER. THE HMS GROUP ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN TO REFLECT ACTUAL RESULTS, CHANGES IN ASSUMPTIONS OR CHANGES IN FACTORS AFFECTING THESE STATEMENTS.
Copyright Business Wire 2013