Velan Inc.’s wholly owned subsidiary Velan ABV has been awarded important contracts for the supply of multiple packages of actuated and manual valves to MODEC Offshore Production Systems (Singapore) Pte. Ltd. These orders are added to those already acquired in the last 12 months for sales in excess of US $30 million and represent the continuation of Velan’s commitment and successes in FPSOs, one of the leading and most demanding O&G markets.
The scope of supply consists of high and ultra-high pressure forged valves whose compact design and special construction have significantly contributed to the improvement of the Customer’s process efficiency and will also improve and facilitate the daily operation of the Customer’s facilities. Deliveries are scheduled for end of 2020 to early/mid-2021 (Q1 to Q2 FY22).
These results have been made possible thanks to Velan’s unrivalled know-how of industry processes and its capability to cooperate closely with customers, offering state-of-the-art customized solutions.
Velan’s CEO, Yves Leduc, stated: “Velan’s success in growing our bookings this year in the context of the global economic crisis is the direct result of targeted market strategies that identify distinct niches or applications where our superior products’ and technologies’ capabilities stand out and then focus on meeting our end-users’ tough requirements. Our success in the FPSO market is a perfect example of this strategy. Velan ABV is a first-class player in the supply of high-tech products in this distinct market segment, and we are proud to meet our customer MODEC’s stringent demands for such products.”
Image credit: Velan