Hayward Tyler Group wins contracts

Hayward Tyler Group - the specialist engineering group, comprising the operating companies of Hayward Tyler and Peter Brotherhood - has won a series of contracts, totalling in excess of £4.5m. Primarily, Hayward Tyler has secured two orders from Eureka Pumps AS for operators in the North Sea for: a motor unit for a firewater pump application at the Gudrun field, which is operated by Statoil; and a motor unit for a seawater lift pump application for the Edvard Greig field operated by Lundin Petroleum.

The delivery of these offshore products further demonstrates the breadth of HTG's portfolio for delivering applications to the Oil and Gas sector, and complements the recent awards for subsea installations off the coast of Brazil and the west coast of Africa. Additionally, the group has also won a contract with Korea Hydro Nuclear Power to replace certain existing Hayward Tyler pumps which have been in operation for 14 years at their Hanbit power plant, as well as the supply of backup parts.

The existing system has been in operation since 2002, demonstrating the longevity of its engineered products. Peter Brotherhood also announced its first contract as part of HTG for a Tri-generation Combined Heat and Power system, which will not only provide heat or cooling or a combination of both, but also a significant electrical output.

Chief executive Ewan Lloyd-Baker said: "We are delighted to be announcing these new contract wins which confirm that momentum is continuing to build throughout HTG. They are testament to the confidence that key clients have in our products and the teams that help deliver them, and having now shipped the S-Oil project, we remain committed to delivering world class products on time in full and right first time across the Group."

At 9:55am: (LON:HAYT) Hayward Tyler Group share price was +3p at 81.5p