Last checked at 7 Sep 2010 07:00
7 September 2010 Avingtrans plc ("Avingtrans" or the "Group") Aerospace Division Contract Wins
Avingtrans (AIM:AVG), the designer, manufacturer and supplier of critical components and associated services to the energy, medical, industrial and global aerospace sectors, announces the following contract wins by its Aerospace Division with a total worth in excess of £10 million over the next 5 years.
Sigma Precision Components has signed a strategic long term agreement withEaton Aerospace to supply machined components and pipe assemblies, worth £8million over 5 years. This includes a recent project to absorb 180 outsourcedmachined component part numbers, worth £300,000 per annum, run by a dedicatedSigma project team working closely with their counterparts at Eaton Aerospace.
Sigma has also successfully supplied first article samples of titanium pipe assemblies to Eaton at Titchfield. Orders have now been placed for an initial production run worth £500,000 with the prospect of further orders in 2011. Eaton Aerospace is now the second largest customer in Avingtrans' aerospace division.
In addition, Sigma Precision Components UK has signed a global purchasingagreement with Meggitt to supply precision machined components, being the firstMeggitt supplier to do so. This secures £2 million of business with theMeggitt sites in the UK and China over the next 3 years and provides a firmplatform from which to win additional contracts. Recent wins include ordersfor machined parts for the BR725 engine programme supplied to Meggitt ControlSystems' site in Coventry.
Steve McQuillan, CEO of Avingtrans, said:
"Following the recent name change of B&D Patterns to Sigma Precision ComponentsUK, these are significant new contract wins for Sigma and the longer termagreements demonstrate its growing reputation supplying the highest qualityproducts into the aerospace industry. Key Aerospace OEMs increasingly see SigmaUK and Sigma China as one unit and as a strategic supply chain partner for
longterm development".www.avingtrans.plc.ukEnquiries:
Avingtrans plc, Steve McQuillan, CEO Tel: +44 (0)115 949 9020
FinnCap Tel: +44 (0)20 7600 1658
Marc Young/ Henrik Persson - Corporate Finance Brian Patient / Steve Norcross - Corporate Broking
Hansard Communications, John Bick /Guy McDougall Tel: +44 (0)20 7245 1100
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