Hms Hydraulic S Regulatory News (HMSG)

14 Jan 2014 07:00

HMS Hydraulic Machines & Systems Group plc(the “Company”, and together with its subsidiaries, the “HMS Group”)

HMS GROUP SIGNS RUB 5.7BN CONTRACT TO DELIVER INTEGRATED SOLUTIONS FOR MAJOR SIBERIAN GASFIELD

Moscow, Russia, HMS Group (LSE: HMSG), the leading pump and compressor manufacturer, supplier of turnkey process engineering packages and provider of flow control solutions and related services in Russia and the CIS, announces today that the Group has signed a Rub 5.7 billion (USD 173 million) contract to deliver technological integrated solutions for a major Siberian gasfield.

The scope of contract includes development of design documentation, manufacturing, delivery, supervision and testing of complex technological facility, including compressors, pumps, tanks, vessels, filters, coolers and other components for providing complex integrated systems such as deethanising compressor station, methanol regenerating unit etc.

The project implementation time is two years.

Artem Molchanov, Managing Director (CEO) of HMS Group, commented:

“We are happy to start new 2014 year with the announcement of signing a new material contract worth over 5 billion rubles. Our established track record for efficiency and reliability along with our ability to meet peculiar customer’s needs were the key factors in the award of this contract.

This contract is a good example of creation value through synergy of all Group’s business units which will together execute the contract under centralized management.

We are proud to offer not only standard equipment but also innovative technological products that conform to our commitment to strategy of providing complex and unique technological integrated solutions to the clients. Participation of HMS Group in milestone projects is an important confirmation of the Group’s high expertise in the industry.”

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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. HMS Group’s products are mission-critical elements of projects across a diverse range of industries. It has participated in a number of large-scale infrastructure projects in Russia, including providing pumps and modular equipment to the Vankor oil field and pumping stations on recent trunk pipelines projects linking Russia’s core oil producing areas to export ports on the Pacific Ocean and Baltic Sea. HMS Group’s global depositary receipts (“GDRs”) are listed under the symbol “HMSG” on the London Stock Exchange.

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Disclaimer

The information contained herein has been prepared using information available to HMS Hydraulic Machines & Systems Group Plc (“HMS Group” or “HMS” or “Group” or “Company”) at the time of preparation of the presentation. External or other factors may have impacted on the business of HMS Group and the content of this presentation, since its preparation. In addition all relevant information about HMS Group may not be included in this presentation. No representation or warranty, expressed or implied, is made as to the accuracy, completeness or reliability of the information.

Any forward looking information herein has been prepared on the basis of a number of assumptions which may prove to be incorrect. Forward looking statements, by the nature, involve risk and uncertainty and HMS Group cautions that actual results may differ materially from those expressed or implied in such statements. Reference should be made to the most recent Annual Report for a description of the major risk factors. This presentation should not be relied upon as a recommendation or forecast by HMS Group, which does not undertake an obligation to release any revision to these statements.

This presentation does not constitute or form part of any advertisement of securities, any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for, any shares in HMS Group, nor shall it or any part of it nor the fact of its presentation or distribution form the basis of, or be relied on in connection with, any contract or investment decision.

Copyright Business Wire 2014