Groupe Gorgé announces today the signature of a major contract for the two EPRTM nuclear reactors currently under construction at the Hinkley Point C site located in Somerset, South West England.
Drawing on its EPRTM experience at Flamanville in France, Olkiluoto in Finland and Taishan in China, the Nuclear Protection business of the Protection of High Risk Installation division of Groupe Gorgé has been awarded by EDF Energy (Nuclear New Build) a first award of approximately €20 million, the second most important order in Groupe Gorgé's nuclear history. This contract will start to generate significant revenues starting 2018.
The scope of this contract includes the design, manufacturing and installation of over 200 biological and neutronic special doors to protect the sensitive areas surrounding the two British EPRTM reactors. These doors comply with demanding and combined technical requirements in term of fire proofing, seismic constraints, water tightness and durability in addition to their primary characteristics of gamma rays and neutrons protection.
The Protection of High Risk Installation division of Groupe Gorgé is a leading global manufacturer of these highly technological doors, dedicated to third generation nuclear reactors, which can reach up to 20 tons in weight and close to 1 meter in thickness. Groupe Gorgé has already delivered the neutronic doors of Flamanville, Taishan I and Taishan II EPRTM.
The British nuclear industry represents a high development potential for Groupe Gorgé which estimates at more than €50 million the addressable market on the single Hinkley Point project.
GROUPE GORGE press releases may contain forward-looking statements regarding GROUPE GORGE's targets. These forward-looking statements reflect GROUPE GORGE's current expectations. Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that could cause actual results, performance or events to differ materially from those anticipated herein. The risks and uncertainties that could affect the Group's future ability to achieve its targets include, in addition to those indicated in the press release: the strength of competition; the development of markets in which the Group operates and notably the 3D printing division; currency fluctuations; obtaining the export authorizations that may be required for certain activities; control of costs and expenses; changes in tax legislation, laws, regulations or their enforcement; our ability to successfully keep pace with technological advances; our ability to attract and retain qualified personnel and key staff; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our FINANCIAL statements; manufacturing and supply chain bottlenecks; the performance of our business partners (subcontractors, agents, suppliers, etc.). Some of these risk factors are set forth and detailed in our Document de Référence (Registration Document including the annual financial report filed with the French Autorité des Marchés Financiers), available on our website www.groupe-gorge.com. This list of risks, uncertainties and other factors is not limitative. Other unanticipated, unknown or unforeseeable factors, such as changes in the economic situation or financial markets, could also have a material adverse effect on our targets.
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About Groupe Gorgé
Groupe Gorgé is an independent group that specializes in high-tech industries. Today, the Group is active in the fields of security and protection in extreme environments, as well as in the 3D printing sector. It employs around 1,700 people, is located in eight countries and directly exports around 40% of its activity. In its more than twenty-five year history, Groupe Gorgé has always developed and driven the latest technological and industrial innovations.
Smart Safety Systems: Developing complete, innovative technological solutions for complex missions in hostile and confined environments.
Protection of High-Risk Installations: Protecting people and ensuring the active and passive protection of installations for energy markets and industrial and tertiary sectors in France. Ensuring the maintenance of these protection systems.
3D Printing: Enabling major industry players to find new routes to successful innovation and production processes by providing systems, 3D printers and new premium material.
In 2016, the Group reported revenue of €281.2 million. It is backed by 1,800 employees and operations in over ten countries.
More information available on www.groupe-gorge.com
Groupe Gorgé is listed on Euronext Paris and on the US OTC market in the form of ADR.
isin code: FR0000062671
Ticker code: GOE
|US OTC market:
CUSIP NUMBER: 399451 103
ISIN NUMBER: US3994511034
Ticker Code: GGRGY / GGRGF
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