HMS Group signs 9 million Euro API pumps contract

Moscow, Russia – November 2, 2016 - HMS Group (LSE: HMSG) announces today that it has signed a 9 million Euro contract for delivery of oil refining pumps according to the API 610 international standard.

Mr. Kirill Molchanov, CFO and First deputy general director of HMS Group, comments:

“The distinctive and strategically important for HMS feature of this milestone contract is that the project is managed by a top international engineering company, which serves as a customer engineer under its EPS (Engineering and Procurement Services) contract with a Russian customer. This means that HMS has successfully entered a separate and additional for HMS market for projects of international engineering contractors in Russia. The market makes up a substantial part of Russia’s oil & gas downstream capex. Prospective projects of such kind in the pipeline is a factor for further sales of HMS in this relatively new for us market segment.”

HMS will produce and deliver more than 50 centrifugal API pumps of different designs for an atmospheric crude distillation unit/vacuum distillation unit, installed at one of Russia’s largest high-tech oil refining plant, located in Western Siberia. The project is to be completed in the first half of 2017.

HMS Group (LSE: HMSG) is the leading pump and compressor manufacturer, as well as provider of flow control solutions and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors in Russia and the CIS. HMS Group’s products are mission-critical elements of projects across a diverse range of industries. It has participated in a number of large-scale infrastructure projects in Russia, providing pumps, oil & gas equipment and compressors. HMS Group’s global depositary receipts (“GDRs”) are listed under the symbol “HMSG” on the London Stock Exchange.

For more information, please, contact:

Inna Kelekhsaeva
Deputy Head of Capital markets
Tel: +7 (495) 730-66-01 x 1318
Anna Obotnina
Head of Marketing communications
Tel: +7 (495) 730-66-01 x (600) 3304

Back to the list