RNS Number : 6658E
MayAir Group PLC
20 July 2016
MayAir Group plc
("MayAir" or the "Group")
MayAir secures US$10.6 million of contract wins
MayAir Group plc (AIM:MAYA), a leading specialist provider of air purification technology, is
pleased to announce that the Group has secured new contract wins in its industrial and commercial divisions with a combined value
of US$10.6 million.
On 17 July 2016, the Group's Industrial division was awarded a contract, expected to generate
approximately US$5.3 million of revenue, for the supply and commissioning of MayAir's fan filtration units ("FFUs") and for the
provision of filters in a cleanroom environment. The contract is with Nanchang O-film Tech Co.,
Ltd ("O-film"), a wholly-owned subsidiary of Shenzhen
O-film Tech Co. Limited, a China-based company principally engaged in the manufacture and distribution of
precision optoelectronics thin-film components. MayAir will provide O-film with FFUs, filters and
related clean room equipment for its factory located in Nanchang, Jiangxi.
The Directors expect that this industrial project with O-film will complete during 2016 and they
therefore anticipate that the majority of revenue due to the Group will be recognised in the current financial year.
In July 2016, the Group's Commercial division secured additional contracts expected to generate
revenue of US$5.3 million. A number of these contracts, expected to be fulfilled in 2016, are to retrofit the offices of
Huawei Technologies Co. Limited ("Huawei") with the Group's clean air and PM 2.5 monitoring systems in certain cities in China.
These contracts follow the successful installation of the systems in Huawei's offices in Beijing, Chengdu,
Shanghai and Langfang. The Group has also secured a contract to install the
existing office buildings of the State Grid Jiangsu Electric Power Company ("State Grid") with MayAir's indoor clean air
solutions and PM2.5 monitoring systems.
The Group has also entered into a contract with the state-owned Guangzhou Metro
Corporation, to supply indoor clean air solutions for the new Subway Lines (No. 9 & 14)
of the metro system of the city of Guangzhou in Guangdong Province of China, which are currently under construction.
The Directors expect that the majority of revenue from these Commercial contracts will also be
recognised in the current financial year.
Yap Wee Keong, Chief Executive Officer of MayAir Group, said: "Following on from the
US$22.8 million of contract wins that we announced at the beginning of June 2016, we are delighted to announce further contract
wins totalling US$10.6 million secured in July 2016 across both our industrial and commercial divisions.
These new partnerships highlight the continuing success of our strategy to become a leading global provider of
clean air solutions. MayAir has the technologies and solutions, as well as brand recognition, to grow sales and our ability
to win new business has increased each year as the global demand for both clean room facilities across a range of industries, and
the large commercial clean air market, where we have secured contracts for both retrofit and new build projects, continues to see
strong growth. We are particularly pleased to secure additional contracts for customers in our commercial division where we
have previously installed our clean air solutions at their other sites. 2016 to date has produced robust revenue growth and
as a result, we look forward with much confidence."
The information contained within this announcement is deemed by the Group to constitute inside information as
stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory
Information Service ("RIS"), this inside information is now considered to be in the public domain.
- Ends -
For further information:
MayAir Group plc
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Yap Wee Keong, Chief Executive Officer
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Tel: +60 3 8961 2908
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Koh Tat Seng, Chief Financial Officer
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www.mayairgroup.com
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Allenby Capital Limited (Nominated Adviser)
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Tel: +44 (0) 20 3328 5656
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David Hart / James Reeve
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www.allenbycapital.com
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Cantor Fitzgerald Europe (Broker)
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Tel: +44 (0) 20 7894 7000
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Andrew Craig / Richard Salmond
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www.cantor.com
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Media enquiries:
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Buchanan
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Henry Harrison-Topham / Victoria Hayns / Jane Glover
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Tel: +44 (0) 20 7466 5000
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MayAir@buchanan.uk.com
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www.buchanan.uk.com
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Notes to Editors
Founded in 2001, MayAir Group is a leading specialist provider of air purification technology for
use in industrial cleanrooms, supplying large multinational manufacturers including Sony, Continental and Bosch. The
Group's core business is in providing Fan Filter Units ("FFUs") air filtering equipment for use in industrial cleanrooms, an area
in which MayAir has established itself as one of the leading providers in China.
In recent years, the Group has diversified its product offering to include indoor clean air
solutions for the commercial and residential markets. Key flagship commercial projects so far include Shanghai airport
terminals, Shanghai International Convention Centre, SOHO Galaxy office development in Beijing and
Chengdu's Subway. MayAir is well positioned to take advantage of the growing demand for air purification technology and in
the year to 31 December 2015, the Group reported record figures with revenue rising by 45% to US$63.6 million and underlying
operating profit rising by 19% to US$7.7 million. MayAir Group listed on AIM in May 2015 with the ticker MAYA.L.
For additional information please visit: www.mayairgroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
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