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LONDON (Alliance News) - Avingtrans PLC Tuesday said it has signed a 10-year GBP55 million deal to supply self-locking nuts to aerospace giant Rolls-Royce PLC and its supply chain.
The AIM-listed aerospace, energy and medical components manufacturer said its Sigma unit would invest in additional manufacturing capacity at its facilities in China and the UK to support the contract.
It is the second long-term contract Sigma has won with Rolls-Royce in the past 12 months. Last November, Sigma got a GBP80 million 10-year contract to supply the aircraft engine manufacturer with rigid pipe assemblies and precision components.
Avingtrans shares were up 6.1% at 143.75 pence early Tuesday. Rolls-Royce shares were up 1.9% at 1,133 pence.
By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
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