Sensonics Branches out with Big Contracts

Posted by Michelle Howard
Wednesday, January 29, 2014

Condition monitoring specialists Sensonics success as a major exporter of instrumentation which protects power plants around the world has been acknowledged by the government initiative to make it easier for the U.K.’s small businesses to grow. Small Business Great  Ambition sits alongside the governments Industrial Strategy of promoting growth and making the U.K. more competitive and successful companies were invited to a special reception held at Number 11 Downing Street.


 
Sensonics were the only British instrumentation manufacturing company to secure a contract with the Korea Electric Power Corporation to supply vibration monitoring equipment for four nuclear power plants in the UAE.  It was a very significant contract for Sensonics that was set to account for 43% of the company’s turnover in 2011.
 


Russell King, Managing Director of Sensonics (pictured outside Number 11) explained, “We were required to submit performance bonds worth 10% of the contract value. Our bank was restricted in the size of bond they could offer us, and were looking for full cash coverage.  This would have been a prohibitively long time for us to have money tied-up on one contract”.  As a result they turned to UK Export Finance (UKEF) who guaranteed the bank to help ensure Sensonics had the capital it needed to deliver this major contract.


 
In the last five years Sensonics has been very successful in reaching out to overseas markets such as China, Korea and India and after a bid process of several years was awarded the contract by the Korea Electric Power Corporation.


 
According to Sensonics, the overseas contract and the UKTI Small Business GREAT Ambition recognition underlines Sensonics’ commitment to developing the most innovative and effective solutions for vibration, position and speed instrumentation for critical machine condition monitoring applications in power generation and process manufacturing industries around the world.

 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

U.S. Navy Contracts 12 Rapid Response Skimmers

Kvichak Marine won a US Navy contract for 12 30-ft.Rapid Response Skimmers (RRS) for delivery over the next 18 months, with options for up to 30 additional skimmers to be delivered through 2019.

DP World Receives 1st Scheduled Vessel at New Terminal

DP World has yesterday welcomed the first scheduled vessel to call at its new Container Terminal 3 in Jebel Ali, Dubai, as it gears up to serve customers at the state-of-the-art facility.

Kalmar 5th Generation Gloria Reachstackers Enter US

Kalmar, part of Cargotec, is launching its highly acclaimed range of reachstackers, called Gloria into the Americas. The eagerly awaited launch follows the successful

Contracts

U.S. Navy Contracts 12 Rapid Response Skimmers

Kvichak Marine won a US Navy contract for 12 30-ft.Rapid Response Skimmers (RRS) for delivery over the next 18 months, with options for up to 30 additional skimmers to be delivered through 2019.

De Beers Orders Specialized Ship from Kleven

Kleven signed a contract with diamond company De Beers Marine Namibia, part of De Beers Group, on the building of a highly specialized vessel for deep water mineral exploration.

Kalmar 5th Generation Gloria Reachstackers Enter US

Kalmar, part of Cargotec, is launching its highly acclaimed range of reachstackers, called Gloria into the Americas. The eagerly awaited launch follows the successful

Energy

Oversupply, Ebola Fears Drive Oil Below $86

* Middle East supply remains strong * Equities fall on confirmed case of Ebola in New York * Economists see gloomy 2015 for China, euro zone - Reuters

New Oil Field Found in British North Sea

GDF SUEZ E&P UK Ltd and BP today announced a new exploration discovery in the UK Central North Sea. The discovery, which spans GDF SUEZ operated block 30/1f

Foster Wheeler & MDM Engineering Merged

Foster Wheeler AG announced today that an indirect wholly owned subsidiary of the Company has completed the acquisition of MDM Engineering Group Limited (“MDM”)

Marine Equipment

Kalmar 5th Generation Gloria Reachstackers Enter US

Kalmar, part of Cargotec, is launching its highly acclaimed range of reachstackers, called Gloria into the Americas. The eagerly awaited launch follows the successful

John Deere Expands Tier 3 Engine Line

John Deere Power Systems (JDPS) has introduced new propulsion ratings to its EPAMarine Tier 3 engine offerings. The new PowerTech 4045TFM85 propulsion ratings expand

Caterpillar: Q3 Results Show Improvement

Caterpillar Inc. today announced its third-quarter results, in which it reported profit per share of $1.63 for the third quarter of 2014, an increase from third-quarter 2013 profit per share of $1.

 
 
Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2439 sec (4 req/sec)