Last checked at 24 Nov 2011 13:32
HMS Hydraulic Machines & Systems Group plc(the "Company", and together with its subsidiaries, the "HMS Group")
HMS Group put into operation unique testing facility to increase R&D capacities
Moscow, Russia - November 24, 2011 - HMS Group plc (the "Group") (LSE: HMSG), the leading pump manufacturer and provider of flow control solutions and related services in Russia and the CIS, announces that today it has launched one of the most powerful testing facilities in Europe to conduct field tests of pumping equipment. This event was attended by the President of Ukraine Viktor Yanukovych, heads of relevant Ukraine ministries, representatives of the major clients such as Transneft, Russian oil-trunk pipelines operator, Rosatom, Russian state-owned nuclear operator, as well as representatives of investment community.
This new test facility provides the capacity of 14 MW and is unique in the CIS.
Only few of the world's leading pump manufacturers have similar equipment. The whole project has been implemented in 18 months and included the facility design, procurement of equipment, construction and commissioning. Investments exceeded 20 million US dollars.
This facility increases R&D capacities of HMS Group considerably. It is intended for field testing of pumping equipment in the operating mode measuring rotating speed, capacity, head and power. The facility provides test benches for all sizes of oil trunk pipeline pumps from the HMS Group product range. The maximum parameters are up to 12.5 MW; 16,000 m3/h and head of 350 m.
The first pump units to be tested will be NM 10000-380-2 pumps made for Transneft to be installed in the ESPO pipeline system. Then pump equipment for downstream and nuclear power plants under construction will be tested; including feed pumps for a unique "VVER-TOI" project carried out by Rosatom envisaging the construction of NPP units with pressurized water reactors.
Putting into operation of this testing facility is an important milestone in the HMS Group development, that strengthens its positions as a provider of unique technical solutions for clients' need of any complexity.
For more information, please contact:
Media Relations: Nozima Karimova, Head of Press ServicePhone: +7 (495) 730-6610, Karimova@hms.ru
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 revenue of RUB 13.9 billion, adjusted EBITDA of RUB 3.1 billion and profit for the period of RUB 2.1 billion for the half year ended June 30, 2011. The HMS Group's global depositary receipts ("GDRs") are listed under the symbol "HMSG" on the London Stock Exchange.
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 communication is only being distributed to and is directed only at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "Relevant Persons"). The securities referred to in this announcement are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this document or any of its contents.
Copyright Business Wire 2011