Specialist Energy’s Hayward Tyler lands new business worth £5.9 mln - Proactiveinvestors (UK)

Specialist Energy Group (LON:SEGR) told investors that its wholly-owned subsidiary Hayward Tyler Group landed £5.9 million in new business in January.

Hayward Tyler has more than 60 per cent of the installed market for BCPs, which are fitted in power stations all over the world and are used to drive water around boiler plants

Hayward Tyler, one of Britain’s oldest engineering firms, makes boiler circulating pumps (BCPs). It is also a very rare commodity - an export success story. It has more than 60 percent of the installed market for BCPs, which are fitted in power stations all over the world and are used to drive water around boiler plants.

Following up a strong December, in which it brought in deals worth £5 million, Hayward Tyler has done even better in January. It has won a number of contracts in India, China, Europe and the United States.

“We are pleased to report that the strong momentum in our core markets in Asia, Europe and the US highlighted towards the end of 2010 is continuing into 2011,” chief executive Ewan Lloyd-Baker said.

“In particular, we see China and India continuing to offer significant growth opportunities for the group.”

It won a contract with Larsen and Toubro (L&T), a large Indian construction group, to deliver three supercritical BCP units for the Koradi project in Nagpur – where L&T is building a 1,980 megawatt thermal power plant.

Hayward Tyler has won a new order from the Dongfang Boiler Group, one of the largest boiler suppliers in China. The company has had contracts with Dongfang before and now it will sell the Chinese firm two more supercritical BCPs. The pumps will be used at the Hanchuan power plant in China’s Hubei province.

It also won two major oil and gas projects with a Norwegian offshore equipment maker, Bjorge Eureka AS. The £1.5 million deal is for five Sea Water Lift Pump (SWLP) and Fire Water Pump (FWP) motor units for use in the Gudrun and Ekofisk North Sea projects.

In the US it secured a contract to overhaul a BCP at the Conesville power station in Ohio - Hayward Tyler has installed equipment in almost 70 percent of North America’s nuclear power plants.

Specialist Energy Group (LON:SEGR) told investors that its wholly-owned subsidiary Hayward Tyler Group landed £5.9 million in new business in January.

Source: Specialist Energy’s Hayward Tyler lands new business worth £5.9 mln - Proactiveinvestors (UK)