LONDON--Meggitt PLC (MGGT.LN), an international company specializing in high performance components and sub-systems for aerospace, defense and energy, said Tuesday it has been awarded a 100 million dollar-plus contract for over 200 innovative high-performance compact printed circuit heat exchangers, or PCHEs, for Tupi BV and Guara BV.
-Starting in 2012 for completion in 2017, the majority of heat exchangers will be assembled in Brazil.
-A new Meggitt company, Meggitt Do Brasil, will be used to collaborate with suppliers on the ground on materials sourcing, project management, fabrication, training, aftermarket services and field support.
-Tupi BV is a joint venture between Petrobras (65%), the BG Group operator (25%) and Petrogal Brasil SA - Galp Energia (10%); GUARA BV is a joint venture between Petrobras (45%), BG Group (30%) and Repsol-Sinopec (25%).
-Meggitt shares closed Monday at 396 pence valuing the company at 3.1 billion pounds.
-Write to Ian Walker at email@example.com
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(END) Dow Jones Newswires
August 07, 2012 02:44 ET (06:44 GMT)
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