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

People & Company News

Wheelabrator Tallies 1 Million Safety Hours

Wheelabrator Group said it reached a major milestone during the first quarter of 2014 with 1 million hours without a lost time incident. More than 200 Wheelabrator

SSI Rep Sponsors Brazilian Offshore Seminar

SSI and its representatives continue to engage with leaders of the shipbuilding and offshore industry to help increase productivity and solve business challenges.

Sakhalin Energy, Sovcomflot Order Newbuild

The companies have signed a number of agreements for construction and long-term operation of the vessels for Sakhalin-2 project. At an official ceremony in Moscow,

Contracts

Japan LNG Imports Hit Record Levels

Japan imported record volumes of liquefied natural gas (LNG) and thermal coal in the fiscal year ended in March, as the country's  shutdowns of nuclear stations

Container Ship Delivers First Boxes to Great Lakes Port

The US Coast Guard say that the 'Fortunagracht', a 450-foot Dutch-flagged container ship, has delivered the first-ever load of containerized cargo to the Great Lakes.

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Energy

Sakhalin Energy, Sovcomflot Order Newbuild

The companies have signed a number of agreements for construction and long-term operation of the vessels for Sakhalin-2 project. At an official ceremony in Moscow,

BP to Outline Enhanced Oil Recovery

Euan Duncan, Discipline Lead Reservoir Engineer at BP, will address SPE Aberdeen’s members and the wider public on April 23, at a presentation covering how EOR

BP Spill Compensation Battles Rage On

BP pays billions in compensation but some claims still unpaid; Oil still appearing on beaches in Gulf of Mexico. Company says claims process is flawed, not all oil from spill.

Marine Equipment

Wheelabrator Tallies 1 Million Safety Hours

Wheelabrator Group said it reached a major milestone during the first quarter of 2014 with 1 million hours without a lost time incident. More than 200 Wheelabrator

Terex Corporation Announces Q1 2014 Financial Results

Terex Corporation (NYSE:TEX) will release its first quarter 2014 financial results on Wednesday, April 30, 2014 after market close. The Company will host a one-hour

Transas to Participate in ETC-2014

Transas will take part in the ETC-2014 – The second International Forum on Seafarers’ Education, Training and Crewing. The Forum which consists of the Conference

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pipelines Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.8173 sec (1 req/sec)