Moscow, February 25, 2016
HMS Hydraulic Machines & Systems Group plc
(the “Company”, and together with its subsidiaries, the “HMS Group”)
HMS Group signs Rub 2.8 bn compressor contract
Moscow, Russia – HMS Group (LSE: HMSG), the leading pump and compressor manufacturer as well as a 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, announces today that it has signed a contract for delivery and installation of a boosting compressor station worth Rub 2.8 bn.
In accordance with the contract, the company will deliver the compressor station on a customer’s site. The station, based on three centrifugal-type compressor units with gas-turbine engines and intended for compression of low-pressure associated gas, will be manufactured by Kazankompressormash and installed at an oil and gas condensate deposit, located in the West Siberia. The project is to be completed by the end of 2016.
HMS Group is the leading pump and compressor manufacturer, as well as 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. 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. HMS Group’s global depositary receipts (“GDRs”) are listed under the symbol “HMSG” on the London Stock Exchange.
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Anna Obotnina, Head of Marketing communications
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The information contained herein has been prepared using information available to HMS Hydraulic Machines & Systems Group Plc (“HMS Group” or “HMS” or “Group” or “Company”) at the time of preparation of the press release. External or other factors may have impacted on the business of HMS Group and the content of this press release, since its preparation. In addition all relevant information about HMS Group may not be included in this press release. No representation or warranty, expressed or implied, is made as to the accuracy, completeness or reliability of the information.
Any forward looking information herein has been prepared on the basis of a number of assumptions which may prove to be incorrect. Forward looking statements, by the nature, involve risk and uncertainty and HMS Group cautions that actual results may differ materially from those expressed or implied in such statements. Reference should be made to the most recent Annual Report for a description of the major risk factors. This press release should not be relied upon as a recommendation or forecast by HMS Group, which does not undertake an obligation to release any revision to these statements.
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