Last checked at 6 Sep 2010 07:00
6 September 2010 Avingtrans plc ("Avingtrans" or the "Group") Contract Win
Avingtrans (AIM:AVG), the designer, manufacturer and supplier of critical components and associated services to the energy, medical, industrial and global aerospace sectors, announces that its Metalcraft subsidiary (energy and medical division) has been chosen by Siemens MR Magnet Technology to manufacture precision machined formers for Siemens' next generation Magnetic Resonance Imaging systems.
As the new product is introduced, it will flow into the overall rolling supply agreement that Metalcraft has for supply of MRI subsystems to Siemens Healthcare from both facilities in the UK & China. Once the product is in full production in 2012, the annualised value of this new product to Metalcraft will be approximately £5 million per annum.
Steve McQuillan, CEO of Avingtrans plc commented "We are delighted to be entrusted by Siemens once again with the supply of critical precision vacuum vessel components for their next generation products. This demonstrates the on-going commitment of Metalcraft to maintain its position as an efficient, high quality partner to Siemens Healthcare and underlines our credentials as a world-class supplier to leading OEMs in our chosen markets."
www.avingtrans.plc.uk
Enquiries:
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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