In a regulatory filing on the 11th, the company said that it signed an agreement to supply heat exchangers to a monoethylene glycol plant being built by Reliance Industries Ltd. of India. The supply volume is worth 9.7 billion won, accounting for 4.8 percent of the company's second-quarter sales revenue.

 

A company official said, "The latest contract was a meaningful milestone for us because it was commissioned by an end user and the order required a highly complicated process including the use of tubes with a special copper-nickel alloy and an internal radius of 4.6 meters."

 

Shinhan Investment Corp. analyst Choi Seok-won said, "It is highly likely that Wooyang will win another large-scale order from Shevron in the latter half. Wooyang is one of the few plant equipment stocks with high growth and profitability potential."