24 Apr 2012 08:37
April 24, 2012
HMS Hydraulic Machines & Systems Group plc
(the "Company", and together with its subsidiaries, the "HMS Group")
HMS GROUP TO PROVIDE 12 PUMP UNITS FOR 3 PUMP STATIONS AT THE EAST SIBERIA - PACIFIC OCEAN OIL TRUNK PIPELINE
Moscow, Russia - HMS Group (LSE: HMSG), the leading pump manufacturer and provider of flow control solutions and engineering services for oil and gas fields in Russia and the CIS, today announces that it has concluded the agreement for production and delivery of 12 trunk pipeline pump units for 3 pump stations of the East Siberia - Pacific Ocean Pipeline totaled Rub 4.6 bn (USD 157 mln).
The Group will provide a customer with integrated pumping stations based on high-capacity pump units, an upgraded modification of pumps installed at the ESPO-1 oil trunk pipeline. In order to meet the strict requirements of the customer, HMS' project and design team has developed a specific model of pump units with enhanced performance characteristics based on the results of the state-of-art IT-complex for fluid dynamics calculations. Testing of the pump units will be conducted at the unique HMS testing facility for increased capacity pumps launched in the end of 2011.
According to the agreement the Group will provide a wide scope of works and services including manufacturing, testing and delivery of trunk pipeline pump units, delivery of a broad range of technological equipment and spare parts, assembly services as well as commissioning on the customer's sites.
Artem Molchanov, Managing Director (CEO) of HMS Group, commented:
"We have a positive track record of numerous projects which show our expertise at solving technically demanding and high-profile tasks. In the oil midstream HMS designed and supplied oil pump stations for the extension of ESPO-1 project, construction of ESPO-2 and the Purpe - Samotlor pipeline. I believe, these headways based on the successful implementation of pump-based integrated solutions are the platform for our future growth."
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The HMS Group is the leading pump manufacturer and 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 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. The Group reported revenues of RUB 20.6 billion, adjusted EBITDA of RUB 4.4 billion and profit for the period of RUB 3 billion for the nine months ended September 30, 2011. 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 Klinkov Head of IR Tel: +7 (495) 730-66-01, ext. 1302 klinkov@hms.ru | Nozima Karimova Head of Press Service Tel: +7 (495) 730-66-10 karimova@hms.ru |
DISCLAIMER
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.
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