First commercial order received from Spirax-Sarco Limited

RNS Number : 7105O
Corac Group Plc
 

1 June 2015

First commercial order received from Spirax-Sarco Limited

Corac Group (AIM: CRA), the specialist engineering group focused on the aerospace & defence and energy & process industry sectors, is pleased to announce it has today received its first commercial order from Spirax Sarco Limited ("Spirax") for its steam expander products.

This order follows the announcement of the ten year commercial agreement announced on 27 March 2015, for packaged steam products containing Corac's micro-turbines and compressors. 

The initial order consists of five micro-turbine units, and an additional spares package. The units will be built at Corac's high technology assembly centre in Portsmouth for delivery in early 2016.

Phil Cartmell, Group Chief Executive, commented:

 "We are very pleased to report that our agreement with Spirax has moved forward into the next phase with a commercial order. This order builds on the activities carried out over the last three years and begins the commercial exploitation of these products. We look forward to continuing to work with Spirax on this and exploring further applications of the technology."