8th Dec 2010 07:00
For immediate release: 0700hrs Wednesday, 8 December 2010
Specialist Energy Group plc
("SEG" or the "Company")
US Nuclear Orders
Further to the announcement of 29 November 2010, which announced the conditional Placing by finnCap Limited of up to £5 million before expenses to support inter alia the expansion of SEG's Hayward Tyler US nuclear operation, the Directors of SEG are pleased to announce three new North American nuclear contracts won by Hayward Tyler, Inc. ("HTI") worth in total approximately $5 million.
The largest of the new orders is from Dominion Nuclear for three sets of replacement columns for the specialist water circulating pumps which will be installed at Dominion's Millstone Nuclear Power Plant in Waterford, Connecticut. The Millstone plant generates 2,097 megawatts of electricity, enough to power approximately 500,000 homes. The first of the outer column sets will be shipped by Hayward Tyler, Inc. in December with the remaining sets being fabricated at HTI's Vermont plant and delivered in 2011.
The next order in size has been placed by the Public Service Enterprise Group for a mission critical seal-less pump for use in the Reactor Water Clean Up phase at the Hope Creek nuclear power station in New Jersey. The pump will be manufactured by HTI and is scheduled for delivery to site in December 2011. It is anticipated a second pump will be purchased in 2011 for delivery in December 2012.
The remaining order is from Hatch Nuclear for a 125 hp. Reactor Water Clean-up Pump Spare Motor. The spare motor pump is scheduled for delivery mid-2011 and will be deployed at the Hatch Nuclear Power Station in Baxley, Georgia. The Hatch Nuclear Power Station is part of Southern Companies and Georgia.
Ewan Lloyd-Baker, Chief Executive Officer of SEG plc, commented:
"We are delighted to be able to announce these contract wins. As previously stated, the US nuclear market is a key growth market for the Group. We now service or have parts in almost 70% of North America's existing and planned nuclear power stations. To this end, we are advancing our plans to expand our Hayward Tyler, Inc. manufacturing operations in North America through the creation of a larger dedicated nuclear-stamped facility in Vermont due for completion in 2012. We believe this will have the potential to nearly double the size of our footprint in the region."
-Ends-
Enquiries:
Specialist Energy Group plc Ewan Lloyd-Baker, Chief Executive Officer Nick Flanagan, Finance Director |
Tel: 020 7747 8380
|
FinnCap Limited Tom Jenkins - Corporate Broking Marc Young - Corporate Finance |
Tel: 020 7600 1658
|
Akur Partners LLP Andrew Dawber David Shapton |
Tel: 020 7499 3101 |
GTH Media Relations Toby Hall Christian Pickel |
Tel: 020 3103 3900
|
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