Hayward Tyler Group wins contracts worth over £4.5m

24th Nov 2016 09:57

(ShareCast News) - AIM-listed engineer Hayward Tyler Group has won four contracts worth in excess of £4.5m.Hayward Tyler, one of its operating companies, won two orders from Eureka Pumps for operators in the North Sea.The first is for a motor unit for a firewater pump application at the Gudrun field, which is operated by Statoil, and the second is for a motor unit for a seawater lift pump application for the Edvard Greig field operated by Lundin Petroleum.This complements its recently won contracts for subsea installations off the coast of Brazil and the west coast of Africa.Hayward Tyler also secured a contract with Korea Hydro Nuclear Power to replace certain existing 14 year old pumps at its Hanbit power plant, as well as providing a supply of backup parts.Peter Brotherhood, the company's other operation, won its first contract for a tri-generation combined heat and power system.Chief executive Ewan Lloyd-Baker said the contract wins are testament to the confidence that clients have in its products and that the company has now shipped the S-Oil project.Shares in Hayward Tyler Group up 2.55% to 80.50p at 1026 GMT.