Hydrogenics Announces Strong Order Intake in Fourth Quarter
Hydrogenics Corporation (Nasdaq: HYGS) today announced that the Company has received orders, during the fourth quarter of 2011, for electrolyzers totaling approximately $10.8 million. These orders were received from a number of customers located around the globe. The electrolyzers and associated services will be used by food processing facilities, thermal power plants and in metallurgical applications, with delivery currently expected over the next six to twelve months.
"We are pleased to see continued strengthening in our industrial end markets. These recent wins, resulting in an expected order backlog of approximately $28.0 million at December 31, 2011 represent a 60% increase in the value of the order backlog year over year. As we execute our growth strategy, customers are showing their appreciation for our reliability, quality and overall value," said Daryl Wilson, Hydrogenics President and Chief Executive Officer.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.