Velan ABV news
Two of Velan’s subsidiaries, Velan ABV Srl and Velan SAS, have secured contracts with a total value of US$63 million
Velan is awarded two major contracts worth a total of US$63 million
In past weeks, two of Velan’s subsidiaries, Velan ABV Srl and Velan SAS, have secured contracts with a total value of US$63 million. The first, the extension of a previous order with MODEC and, the second, a contract with ITER for their tokamak cooling water system.
Velan ABV wins another significant contract with MODEC
In addition to last’s years contracts, Velan Inc.'s wholly owned subsidiary located in Lucca, Italy, has been awarded another contract for the supply of actuated and manual valves to MODEC Offshore Production Systems (Singapore) Pte. Ltd.
These new orders are scheduled for delivery by mid to late 2019 (Q2 to Q4 FY20).
Velan ABV signed contracts with MODEC for the supply of riser and topside actuated valves as well as compact manual ball valves for their new Floating Production Storage and Offloading (FPSO) MV31 Guanabara vessel. The FPSO will be deployed at the Mero (former Libra) field operated by Petróleo Brasileiro S.A. (Petrobras). The scope of supply consists of high and ultra-high pressure forged valves. Their compact design, much lighter compared to the standard, will significantly contribute to customers’ effort of reducing the total weight of the vessel.
Paolo Ranieri, Managing Director and CEO of Velan ABV stated: "These contracts reward our continuous effort to serve our customers with something more than a quality product at the right price. We work with them to identify smart solutions, so they can be successful on the market and reduce the total cost of ownership. Innovation, expertise and agility are the foundation of Velan’s values, and this continues to play a key role in satisfying customers’ needs.”