Velan wins nuclear valve contract in China worth $9.7M

MONTREAL – Velan S.A.S. has won a contract to supply nuclear class control globe valves to the China Nuclear Energy Industry Corporation (CNEIC).

The valves will be used on the two new VVER (The Russian design pressurized water reactor) type nuclear power plants of Tianwan Units 3 and 4.

As part of the contract, the company will supply mainly bellows seal globe control valves, which are electric operated, for service inside and outside nuclear containment.

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The two new units of Tianwan nuclear power plant will be operated by Jiangsu Nuclear Power Co. (JNPC) in the Jiangsu province, China.

The company also signed a contract with Nuclear Power Operations Management Co. (CNNP) to supply of spare parts for the Qinshan II units 1-2-3-4.

Combined, the contracts represent a sales value of approximately US$9.75 million over the two years.

“(We have) a long experience with VVER reactors, as we first started to supply nuclear valves in 1972 for the Russian designed VVER plants to Russia.

“We also supplied to VVER plants in Eastern Europe and India. The Velan group is actively and continuously working with Chinese and Russian EPC's to provide advanced valve design and improvements that are helping to increase the safety level of future nuclear power plants," said Tom Velan, President and CEO of Velan Inc.

The valves are scheduled for delivery from 2014 until 2015.

Velan S.A.S. is a wholly-owned subsidiary of Velan Inc. They are located in Lyon, France.

Velan Inc. manufactures industrial valves, and had sales of $437 million in the last fiscal year.