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Corac Group

  • BY: Andrew Hore |
  • POSTED: 08/01/2015 |

Corac Group has won £2.6m of defence export orders. 

Its subsidiary Atmosphere Control International has won a £1.8m order from a French naval submarine builder for an oxygen production plant. This is the fourth order for a Barracuda class submarine. There are another two potential submarines that may be built. The latest order will be delivered in 2016.

A carbon dioxide scrubber system for another country will be delivered at the end of 2015.  ACI’s order book is worth £13.4m. ACI generated revenues of £10.7m in 2013 and £4.7m in the first half of 2014 when the order book was worth £6.6m.

Corac continues to lose money because of investment in the development of compressor systems to increase production from oil and gas wells and for vapour compressors and expanders.

At 4.5p a share, Corac is valued at £19m.

AIM Journal December 2014 available.

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