OREANDA-NEWS. October 10, 2012. HMS Group (LSE: HMSG), the leading Russian pump manufacturer and provider of flow control solutions and related services in Russia and the CIS, announces that in the third quarter of 2012 it signed a number of contracts with Transneft subsidiaries for replacement and upgrade of pumps and other equipment, totally worth more than Rub 1 bn.

The equipment to be replaced and upgraded is installed at the existing oil pipelines operated by different subsidiaries of Transneft. The size of the contracts varies from less than Rub 1 million to Rub 60 million.

In 1H 2011, revenue from such kind of contracts amounted to Rub 688 million.

HMS Group is the leading pump manufacturer and provider of flow control solutions and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors in Russia and the CIS. The HMS Group’s products are mission-critical elements of projects across a diverse range of industries. It has participated in a number of large-scale infrastructure projects in Russia, including providing pumps and modular equipment to the Vankor oil field and pumping stations on recent trunk pipelines projects linking Russia’s core oil producing areas to export ports on the Pacific Ocean and Baltic Sea. The Group reported revenues of RUB 14.9 billion, adjusted EBITDA of RUB 2.5 billion and profit of RUB 969 million for the 6 months ended June 30, 2012. The HMS Group’s global depositary receipts (“GDRs”) are listed under the symbol “HMSG” on the London Stock Exchange.