30th Mar 2015 10:03
LONDON (Alliance News) - Engineering company Hayward Tyler Group PLC on Monday said it expects to meet market expectations for its financial year to the end of March following good trading in the fourth quarter, buoyed by new contract wins in China and India.
The company said it has won a GBP0.6 million contract from Shanghai Boiler Works in China for the delivery of two Boiler Circulating Pumps for the 1,000 megawatt Supercritical Beijing power plant, based in the Tianjin Province in northern China. The pumps are due for delivery in November and December 2015.
Hayward added it has now opened new office in Shanghai in order to better service the energy, power and chemical markets in China.
The company has also secured an aftermarket order worth GBP0.5 million, with delivery due in December.
Hayward Tyler said it is seeking to expand its presence in the UK nuclear new build market and said it is seeing significant interest from oil and gas customers for its subsea services.
"In spite of the tightening market conditions, the group continues to make solid progress across its chosen markets, which underpins management's expectation of meeting market expectations for the full year," said Ewan Lloyd-Baker, Hayward's Chief Executive.
Shares in Hayward were down 1.8% to 69.00 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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