Avingtrans PLC (LON:AVG) shares rose on Monday morning after its Hayward Tyler unit bagged another set of contracts worth more than US$3mln.
Earlier this month, Hayward Tyler, which Avingtrans acquired this time last year, secured orders worth US$4mln (£3mln) for the supply of high integrity pumps for the UK’s Astute class submarine programme.
READ: Hayward Tyler says it is poised for growth as it begins year with record order book
Today (Monday) the AIM-listed company announced that the division has won contracts worth in excess of US$3mln related to molten salt applications in advanced nuclear and solar power technologies in the US.
The bulk of the order – around US$2.4mln – is for the design, manufacture and test of high-temperature molten salt pumps for advanced nuclear test facilities.
The second set of contracts relates to government-funded projects worth roughly US$1mln to Hayward Tyler for the research and development of pumps to be deployed in both advanced solar and advanced nuclear test facilities.
“These contract wins are further evidence of the strength of Hayward Tyler in the marketplace and underpin the ongoing strategy across the group,” said chief executive Steve McQuillan.
“The nuclear market, across the whole fuel cycle, remains a key theme across both our Energy Divisions.”
Shares rose 3.6% to 226p in early deals on Monday.