31st Mar 2008 07:02
Gas Turbine Efficiency PLC31 March 2008 31 March 2008 GTE wins $2.3m of orders, increasing total '08 order book to $16.3m ('GTE' or 'the Group') Gas Turbine Efficiency plc, a leading provider of advanced systems to enhancethe performance of aviation and industrial turbines, is pleased to announce thatit has continued to experience robust trading and has received additional orderstotalling over $2.3m, bringing the total backlog for 2008 to $16.3m, up 58% compared with the same time last year in 2007. The new orders include a breakthrough $1.4m contract from one of the world'slargest Original Equipment Manufacturers of industrial turbines. This is thefirst major contract won by GTE from this customer since signing a global OEMagreement in October 2007. Under the terms of the contract, GTE will supplysystems used for emission reduction. The strengthening order book provides further visibility to GTE's prospects for2008 and reinforces its strategy to align with the critical long term industrygrowth drivers including: 1 Increased energy demand and need for infrastructure solutions 2 Rising fuel costs and need for efficiency solutions 3 Strengthening environmental regulatory frameworks 4 Fuel diversity challenges as industry moves toward alternate fuel sources Steven Zwolinski, chief executive of GTE, commented: "GTE is continuing toexperience a strong ramp-up in orders as the global industrial turbine sectorincreasingly recognises the competitive value of our products in reducing fuelcosts, lowering greenhouse gas emissions and equipment downtime. This is theresult of strong foundational growth initiatives implemented by the Group overthe past two years to position itself for long term growth in the global $8-10bnenergy marketplace." Enquiries: Gas Turbine Efficiency plcSteven Zwolinski, CEO +46 8 546 10 528 Libertas CapitalAamir Quraishi, Matthew Hindhaugh +44 20 7569 9650 Corfin CommunicationsNeil Thapar, Harry Chathli, Alexis Gore +44 20 7977 0020 About GTE Gas Turbine Efficiency plc, whose shares are traded on London Stock Exchange'sAIM market (Ticker: GTE), designs, manufactures and markets advanced integratedsolutions for environmental, process and asset optimisation of gas turbinesprimarily in the aviation, industrial and oil & gas sectors. These solutionsinclude compressor cleaning systems, performance monitoring, fuels management,OEM approved combustion design and repair services and fluid and controlsub-systems that improve turbine performance and availability, fuel efficiencyand parts life, resulting in increased profits for its clients and a cleanerenvironment. The Group sells its products to blue chip customers worldwide fromoperational centres in Europe and the USA. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Gran Tierra