Velan signs lucrative valve contract

Velan Inc.’s wholly-owned subsidiary located in Lyon, France, has been awarded an important contract for the supply of nuclear class control globe valves to China Nuclear Energy Industry Corporation (“CNEIC”) for the two new VVER (The Russian design pressurized water reactor) type nuclear power plants of Tianwan Units 3 and 4.
The scope of supply consists mainly of bellows seal globe control valves, electric operated, for service inside and outside nuclear containment. These two new units of Tianwan nuclear power plant will be operated by Jiangsu Nuclear Power Co. (“JNPC”) in Jiangsu province, China. These valves are scheduled for delivery from 2014 until 2015. Velan S.A.S. also signed significant spare parts contracts with Nuclear Power Operations Management Co. (“CNNP”) for the supply of spare parts for Qinshan II units 1-2-3-4. CNNP is the new organization of Chinese National Nuclear Corporation (“CNNC”) dedicated to global management of spare parts and services for nuclear power plants in operation.
Combined, the above contracts represent a sales value of about US$9.75 million (EUR7,5 million) over the two years.
Michel Monier, Director of Nuclear-China at Velan S.A.S., stated: “After supplying nuclear control valves for third-generation reactors such as Taishan units 1-2 and High Temperature Reactors, we are honored to further contribute to the development of nuclear projects managed by CNNC, and to consolidate our technical expertise for VVER designed reactors”.
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