1 Jun 2015 07:00
1 June 2015
Corac Group plc
("Corac" or the "Company")
First commercial order received from Spirax-Sarco Limited
Corac Group (AIM: CRA), the specialist engineering group focused on the aerospace & defence and energy & process industry sectors, is pleased to announce it has today received its first commercial order from Spirax Sarco Limited ("Spirax") for its steam expander products.
This order follows the announcement of the ten year commercial agreement announced on 27 March 2015, for packaged steam products containing Corac's micro-turbines and compressors.
The initial order consists of five micro-turbine units, and an additional spares package. The units will be built at Corac's high technology assembly centre in Portsmouth for delivery in early 2016.
Phil Cartmell, Group Chief Executive, commented:
"We are very pleased to report that our agreement with Spirax has moved forward into the next phase with a commercial order. This order builds on the activities carried out over the last three years and begins the commercial exploitation of these products. We look forward to continuing to work with Spirax on this and exploring further applications of the technology."
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For further information, please contact: |
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Corac Group |
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Phil Cartmell, Chief Executive Officer | 01753 285 800 |
Mark Crawford, Chief Financial Officer |
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www.corac.co.uk |
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Cenkos |
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Ivonne Cantu / Elizabeth Bowman | 020 7397 8780 |
www.cenkos.com |
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Vigo Communications |
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Jeremy Garcia / Fiona Henson | 020 7016 9570 |
www.vigocomms.com |
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NOTES TO EDITORS
About Corac Group plc
Corac Group is a specialist engineering group focused on the aerospace & defence and energy & process industry sectors. The Group designs and builds valuable solutions for critical applications in compression systems, renewable energy, atmosphere management and fabricated equipment; and provides support services through the equipment's lifetime. Corac Group shares have been trading on AIM since July 2001.
About Spirax-Sarco Engineering plc
Spirax-Sarco Engineering plc is the world leader in both steam system management and niche peristaltic pumps and associated fluid path technologies. The Company provides a broad range of fluid control products, engineered packages, site services and systems expertise for its diverse range of over 100,000 industrial and institutional customers. The Company helps its customers to optimise production capacity, reduce energy costs and emissions, improve product quality and enhance the safety of their operations. Spirax Sarco is headquartered in Cheltenham, England, has strategically located manufacturing plants around the world and employs approximately 4,700 people, of whom around 1,300 are direct sales and service engineers. Its shares have been listed on the London Stock Exchange since 1959 (symbol: SPX).