Avingtrans Regulatory News (AVG)

26 Nov 2012 07:00

Embargoed until 07.00 26th November 2012

Avingtrans plc ("Avingtrans", "Group" or "the Company") Acquisition of Aerotech Tubes Ltd Avingtrans plc, which designs, manufactures and supplies critical componentsand associated services to the global aerospace, energy, and medical sectors,announces that it has acquired Aerotech Tubes Ltd ("Aerotech") to expandAvingtrans' Aerospace Division for a cash consideration of £2 million.Furthermore, the Company is pleased to have secured a new long term agreement,valued currently at £2 million per annum, over the next ten years, with anexisting Aerotech customer.Based in Derby, Aerotech manufactures pipe assemblies and manifolds for leadingtier-1 customers in the aero-engine industry. Aerotech, which employs 10people, reported revenue of £2.36 million* and an adjusted operating profit of£0.46 million* (being £0.25 million* before certain costs which are notexpected to recur) for the year ended 31 December 2011.

Mark Johnson, Managing Director of Avingtrans' Aerospace division commented:

"Aerotech is another excellent addition that will add further capability to ourpipes and manifold business. The contracts we have agreed are on majoraerospace programmes and provide visibility on revenues whilst also helping tocement our customer relationships."This is the second acquisition since the £13.45 million sale of our Jena Tecbusiness and we are delighted that we've since been able to add two qualitybusinesses to the Aerospace division for a total of £3.85 million in such ashort space of time. We look forward to bedding in these two businesses andremain alert to further opportunities."* Source: Aerotech Tubes Ltd unaudited annual report for the year ended 31December 2011 -ends- Enquiries:Avingtrans plc 0115 949 9020Steve McQuillan, CEOStephen King, CFO FinnCap Marc Young / Henrik Persson - Corporate Finance 020 7220 0568

Brian Patient / Victoria Bates - Corporate Broking

Newgate Threadneedle 020 7653 9850(Financial PR)Josh RoystonAbout Avingtrans

Avingtrans plc is engaged in the provision of highly engineered components

and services to the Aerospace, Energy and Medical markets worldwide. The business is made up of 2 divisions: • Aerospace, engaged in the manufacture of rigid pipe assemblies,

fabrications and prismatic components - both metallic and composite - for

the global aerospace market and precision polishing of aircraft components and;

• Energy and medical, engaged in the manufacture of machined and fabricated

pressure and vacuum vessels and components for the energy, medical, science

and research communities. Design and manufacture of fabricated poles and

cabinets for roadside safety cameras and rail track signalling.