HMS Hydraulic Machines & Systems Group plc
(the “Company”, and together with its subsidiaries, the “HMS Group”)
HMS Group Signs Long-term Framework Agreement with Gazprom
Moscow, Russia – October 17, 2016 - HMS Group (LSE: HMSG) announces today that it has signed a long-term framework agreement with Gazprom to deliver import-substitution equipment made by HMS’ facility, Kazankompressormash (KKM).
In accordance with the agreement’s terms, KKM will provide Gazprom with manufacturing, procurement and aftermarket services of modular compressor units, MKU TAKAT-series, based on screw compressors. The TAKAT compressor units will be made fully in accordance with the API 619 international standard.
KKM is an active partner of Gazprom in the area of the import-substitution program of core process equipment. It has taken part in a number of successfully completed Gazprom’s projects including production and delivery of compressor equipment to the newly constructed Compressor Stations of Ekaterinovka, Pisarevka, Bubnovka, Zavolzhskaya, etc.
The agreement will allow HMS Group to replace Gazprom’s German and Dutch suppliers of comparable equipment, and guarantees future purchases at prices not higher than for foreign alternatives. Conclusion of such long-term agreements is in line with the import-substitution policy announced by the Government of the Russian Federation.
According to Mr. Artem Molchanov, CEO of HMS Group, “signing of the agreement with Gazprom is a milestone in the history of the company. It will provide HMS with new opportunities and open new markets.”
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About HMS Group
HMS Group is the leading pump and compressor manufacturer, as well as provider of flow control solutions and related services for the oil and gas, petrochemistry, nuclear and thermal power generation, water and wastewater sectors in Russia and the CIS headquartered in Moscow, Russia. HMS Group’s products are mission-critical elements of projects across a diverse range of industries. HMS has a listing on the London Stock Exchange in the form of global depositary receipts (LSE: HMSG).
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