New Order Win

9 Mar 2007 09:17

Corac Group Plc09 March 2007 For Immediate Release 9 March 2007 CORAC GROUP PLC NEW ORDER WIN Corac Group plc ('Corac') is pleased to announce that following the recentsigning of a Joint Development Agreement ('JDA') with Fu Sheng, the Taiwaneseconglomerate, an order for two turbo boosting machines has been received. Theseunits will form part of the Hybrid compressor range delivering higher efficiencythan traditional oil free machines. Hybrid machines combine Corac's turbo compression units with Fu Sheng's waterscrew air ends and have demonstrated improved output efficiency per kilowatt ofenergy. Fu Sheng is an important compressor supplier to the South-East Asian market. Professor Gerry Musgrave, Executive Chairman of Corac said: "This is an exciting partnership which will help Corac address the vibrantSouth-East Asian market, in particular, China. We are delighted that this orderhas been received so early on in the Joint Development Agreement with Fu Sheng,which is expected to open a number of opportunities to us." For further information: Corac Group plc 01895 813463 Prof. Gerry Musgrave, Executive Chairman Tom Ivings, Finance Director Buchanan Communications 020 7466 5000 Richard Darby, Suzanne Brocks, Ben Romney NOTES TO EDITORS Corac is an intellectual property, engineering and licensing group which holdsmany patents. It focuses on high speed electrical direct drive turbo machinerybased on its unique expertise in gas bearings. Corac has created an innovative'no oil' turbo compressor together with a unique gas seal, and is part of ajoint industry programme for the downhole gas extraction industry. Further information on Corac is available on the internet at www.corac.co.uk This information is provided by RNS The company news service from the London Stock Exchange