Velan gets nuclear valve contracts in China, work in France, worth combined $61M

MONTREAL – Industrial valve maker Velan announced Wednesday it has won several nuclear contracts in China, as well a spare parts and maintenance orders in France, worth a total of $61 million.

China Nuclear Power Engineering Co. has awarded Velan new contracts for nuclear classified valves for the next six CPR1000 nuclear power plants to be built by China Guangdong Nuclear Power Co..

These valves include electric and pneumatic actuators and are for service inside the nuclear island.

Velan has also been selected by China Nuclear to supply electric-operated globe valves, bellows globe valves, check valves and instrument valves for the third-generation reactors C-EPR at the Taishan nuclear power station in Guangdong province.

All these valves feature cobalt-free designs and modular maintenance features for simple, in-line maintenance, Montreal-based Valen said in a news release.

“These orders, which will be shipped from 2011 through to 2014, strengthen Velan’s position as an important partner of the Chinese nuclear engineering companies and further consolidate the long-term relationship Velan has enjoyed with CGNPC,” it said.

“We are honoured by the continuing confidence that our Chinese customers have demonstrated in us and proud to contribute to the growth of nuclear power in China,” added Michel Monier, director of nuclear, China, at Velan.

“As part of our commitment to our nuclear customers, we recently opened a Velan nuclear sales support office in Beijing . . . and(have) formed a dedicated aftermarket team based in the Velan plant in Suzhou. This will enable us to provide quicker and more efficient support to our customers in China,” Monier said.

Velan has also received several nuclear spare parts and maintenance orders from France’s state-controlled power utility EDF and from AREVA, a French company which builds and exports nuclear power stations.

“These important nuclear valve orders reinforce our leadership in supplying forged valves, parts, and accessories, as well as associated technical services, to the global nuclear industry,” said company president Tom Velan. “They also clearly demonstrate the confidence that major nuclear customers have in our products and people.”

Valen shares closed up 40 cents, or 3.08 per cent, at $13.38 Wednesday on the Toronto Stock Exchange.

© 2010 The Canadian Press