Proactive Investors – Hayward Tyler playing the long game

Shares in Hayward Tyler (LON:HAYT) took a biffing Tuesday Morning after the specialist engineer’s results, and if you are wondering why, join the club.

The numbers were the best the 200-year-old company has produced since listing in 2010, despite management having to run the show while at the same time project managing a massive investment in the pumps and motors specialist’s Luton facility.

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Positive indications for Hayward Tyler as Modi’s power plan clicks into gear

Prime minister Narendra Modi’s determination to resolve India’s electricity problems represents good news for specialist engineering group Hayward Tyler, who this week announced being awarded a contract at NTPC’s super thermal plant in Korba, Chhattisgarh State.

Power Engineering International spoke to CEO, Ewan Lloyd-Baker, about the company’s 30-year association with the Indian power market.

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Proactive Investors – Hayward Tyler gets its motor running

Britain may not be the workshop of the world any more, but it has a proud engineering history in which Hayward Tyler (LON:HAYT) has played its part.

Established 200 years ago, the supplier of electric motors and pumps has undergone a rebirth this decade that has not gone unnoticed, judging by the recently announced deal with FMC Technologies, the global market leader in sub-sea systems.

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Hayward Tyler and FMC sign a deal worth $2m

Hayward Tyler (HAYT) has signed a production alliance agreement with FMC Technologies, a sub-sea systems specialist, for the supply of magnet motors for use in FMC Technologies’ pump systems. FMC has also committed an initial $2m towards the continuing development of Hayward Tyler’s Luton plant.

New global production alliance

The board of Hayward Tyler (AIM:HAYT), the specialist engineering group, is delighted to announce the Group has:

1. entered into a production alliance agreement with FMC Technologies, the global market leader in subsea systems;

2. signed the latest topside letter of intent agreement (“LOI”), building on Hayward Tyler’s long-standing relationship with Eureka.

The announcements coincide with Group’s attendance at the Offshore Technology Conference this week in Houston, Texas.

Subsea Production Alliance Agreement – FMC Technologies

The Directors of Hayward Tyler are delighted to announce the signing of a production alliance agreement with FMC Technologies, the global market leader in subsea systems. Under the terms of the agreement, Hayward Tyler will manufacture permanent magnet motors for use in FMC Technologies’ 3.2MW subsea pump systems. The agreement is accompanied by an initial US$2 million commitment by FMC Technologies towards the on-going development of Hayward Tyler’s Luton plant.

Ewan Lloyd-Baker, CEO of Hayward Tyler, commented:

“The offshore oil & gas market is of long-term strategic importance to Hayward Tyler and underpins our investment into our Centre of Excellence in Luton. The production alliance agreement with FMC Technologies is of cornerstone importance in relation to our subsea activity.”

The on-going expansion of Hayward Tyler’s Luton manufacturing facility includes a dedicated test facility for its subsea motors.
Jim Pribble, President and General Manager of FMC Technologies’ Direct Drive Systems business added:

“Combined, we can now offer the subsea oil and gas segment the absolute latest technology – and then deliver it with best-in-class manufacturing capability. This critical step ensures our customers receive the most reliable subsea boosting solutions available while enhancing the economics for subsea reservoir development.”

Topside – latest orders

The Company is also pleased to report the signing of a LOI for the latest order for four submersible motors, valued at approximately US$1.25 million, for use in the Baram field in the Malaysian gulf as a result of Hayward Tyler’s on-going agreement with Eureka and existing relationship with the end user, Petronas. The Company has now installed over 250 submersible motors in offshore locations globally.

Ewan Lloyd-Baker said:

“Being aligned with market leaders in offshore oil & gas exploration is of fundamental importance in terms of expanding our presence in the sector. We look forward to developing further relationships in the offshore market where our products are able to help provide performance-critical solutions.”


 

About Hayward Tyler Group plc

Hayward Tyler Group plc (LSE: HAYT) is a market leader in the design, manufacture and servicing of performance-critical motors and pumps for the harshest of environments. Core markets for the group include: oil & gas exploration – both topside and subsea; power generation – both conventional and nuclear; and the chemical/industrial sector. With facilities in the UK, US, China and India, the Group has a proven reputation for providing innovative, reliable technological solutions built on a proud heritage stretching back over 200 years. www.haywardtyler.com

About FMC Technologies

FMC Technologies, Inc. (NYSE: FTI) is the global market leader in subsea systems and a leading provider of technologies and services to the oil and gas industry. We help our customers overcome their most difficult challenges, such as improving shale and subsea infrastructures and operations to reduce cost, maintain uptime, and maximize oil and gas recovery. Named by Forbes® Magazine as one of the World’s Most Innovative Companies in 2013, the company has more than 20,000 employees and operates 24 production facilities in 14 countries. Visit www.fmctechnologies.com or follow us on Twitter @FMC_Tech for more information.

Enquiries:
Hayward Tyler Group plc
Ewan Lloyd-Baker, Chief Executive Officer
Nicholas Flanagan, Chief Financial Officer
Tel: +44 (0)1582 731144

Akur Limited – Corporate Finance adviser
Tom Frost
David Shapton
Tel: +44 (0)20 7493 6548

finnCap Limited – NOMAD & Broker
Matt Goode – Corporate Finance
Grant Bergman – Corporate Finance
Tony Quirke – Corporate Broking
Tel: +44 (0)20 7220 0500

GTH Communications Limited
Toby Hall
Tel: +44 (0) 20 7822 7493 / +44 (0)7713 341072

This information is provided by RNS
The company news service from the London Stock Exchange

Investors Chronicle: HT Motors On

Hayward Tyler (HAYT) celebrated its 200 – year anniversary by posting its best performance since listing in 2010. But despite original equipment and aftermarket revenues both growing 13 per cent due to strong power and nuclear markets shares in the pump and motor manufacturer tumbled 5 per cent.

Trading update and notice of results

Further to the announcement of 30 March, the board is pleased to report an improvement in the Group’s underlying gross and operating margins in the second half of the year. Management expects revenues for the full year to have increased in line with expectations, rising over 10% on a year-on-year basis, underpinned by order intake in the 12 months to 31 March 2015 of £41.7 million.

The directors are also pleased to report net debt has fallen to £7.9 million, against a market expectation of £8.7 million, in spite of the Group’s on-going investment into its Luton-based Centre of Excellence.

Ewan Lloyd-Baker, CEO of Hayward Tyler, commented:
“The Group’s on-going focus on margin improvement and expansion of our production capabilities, coupled with the strengthening of our balance sheet, puts Hayward Tyler in an increasingly well-placed position to capture significant opportunities across our chosen markets and achieve the Board’s growth ambitions. The Board remains confident in the short to medium term prospects for the business and looks forward to updating shareholders on progress over the course of the new financial year.”

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Hayward Tyler gets lean

GROWTH PLANS OVER THE NEXT 5-10 YEARS

In order to capitalise on growth across a number of its markets, Hayward Tyler recognised it needed to undertake a business transformation project focused on maximising efficiency, aligning capacity to demand as closely as possible, and boosting profitability.

Having already achieved a substantial growth in the turnover of its Luton operations – from £18m in 2011 to £26m in the financial year to 31 March 2014, the next stage was to create a plan designed to achieve two key objectives: doubling the size of its Luton facility and increasing the number of units produced, whilst ensuring the facility remained fit for purpose.

Hayward Tyler had previously used Excel as its primary tool for planning. However when the management team looked at the extent of change required to meet accelerating demand across its markets, they felt it was impossible to deliver an accurate, trusted plan using such methods.

“The growth in our key markets means market share is there for the taking. We’ve already got great products – we simply have to get ourselves into the best position to take advantage of increasing demand,” comments Martin.

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Hayward Tyler contract wins

Hayward Tyler on course to meet expectations; unveils new contract wins

Specialist engineering group Hayward Tyler (LON:HAYT) disclosed £1.1mln of contract wins in an upbeat fiscal fourth quarter update.

Trading has been healthy across all of Hayward Tyler’s markets in 2015, and the company said it successfully opened a new sales office in Shanghai to complement its existing service and overhaul facility in Kunshan, while the expansion of its Luton facility to meet anticipated increased demand remains on track.

The new contracts announced on Monday were both from the eastern hemisphere. A contract from Shanghai Boiler Works in China for the delivery of two boiler circulating pumps for the 1000 megawatt super-critical Beijiang power plant in Tianjin Province, Northern China, is worth more than £600,000. The pumps are due for delivery in October and November this year.

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Hayward Tyler China expansion

Hayward Tyler opens Shanghai office as it eyes nuclear and chemicals market opportunities

Specialist engineering group Hayward Tyler (LON:HAYT) disclosed £1.1mln of contract wins in an upbeat fiscal fourth quarter update.

Trading has been healthy across all of Hayward Tyler’s markets in 2015, and the company said it successfully opened a new sales office in Shanghai to complement its existing service and overhaul facility in Kunshan, a city in the greater Suzhou region of China.

The new contracts announced on Monday were both from the eastern hemisphere. A contract from Shanghai Boiler Works in China for the delivery of two boiler circulating pumps for the 1000 megawatt super-critical Beijiang power plant in Tianjin Province, Northern China, is worth more than £600,000. The pumps are due for delivery in October and November this year.

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