Velan Inc. announced on Januray 12th, 2010 that it has been awarded several important contracts amounting to approximately $80 million for valves for nuclear power projects in China and Slovakia. The Canadian operations have booked an order for nuclear gate, globe, check and butterfly valves for the Mochovce nuclear power plant in Slovakia. This order is in addition to the previously reported order for main steam isolation valves (MSIV) for the same nuclear power plant. The company's French subsidiary, Velan SAS, has recently booked several important nuclear contracts in China to supply actuated forged valves to CNPEC for 4 CPR1000 nuclear power plants in Ning De and Hong Yan He, and to CNPE/CNNC for 2 CPR600 nuclear power plants in Hainan Changjiang.
Nuclear contracts are typically longer term and although shipments will start on some contracts in Fiscal 2011 they will extend over several years.

The company's President, Tom Velan, said "Booking these important nuclear projects is testimony to our leadership in supplying forged valves and associated technical services to the global nuclear power industry as well as the confidence that major nuclear customers have in our products and people. We have been active in the nuclear industry since its inception and we are a world leader in the design and manufacture of nuclear gate, globe, and check valves. We are the company with the widest range of valve operating experience in PWR, BWR, ABWR, Candu (PHWR), VVER and Pebble Bed (PBMR) reactors. We have also booked major valve orders for the new EPR and CPR nuclear plants. These new orders raise our total nuclear backlog to $345 million and demonstrate our strong commitment to the nuclear industry."

Source: Marketwire.