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2 Apr 2014 07:00
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2 April 2014
Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
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Contract Win
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Avingtrans (AIM:AVG), a manufacturer of critical components and associated services to the global aerospace, energy and medical sectors is pleased to announce that Sigma Components, part of the Group's Aerospace Division, has signed a 10 year long term agreement (LTA) with Rolls-Royce plc valued at cĀ£25m over its duration based on the current predicted volumes.
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The contract is to be sole supplier of pipe assemblies on one of Rolls-Royce's engine programmes. In order to support the contract, Sigma will invest in additional manufacturing capability at its facilities in the UK and China.
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Mark Johnson, Managing Director of Avingtrans Aerospace Division commented "We are really pleased with the ongoing development with our biggest customer. This is the fourth LTA agreed with Rolls-Royce within the last 18 months having a combined value of over Ā£180m."
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Enquiries:
Avingtrans plc 0115 949 9020
Steve McQuillan, CEO
Stephen King, CFOĀ
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Numis
David Poutney (Corporate Broking) 0207 260 1000
Richard Thomas (Corporate Finance and Nominated Adviser)
Newgate Threadneedle 020 7653 9850
(Financial PR)
Josh Royston / Heather Armstrong
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About Avingtrans
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Avingtrans plc is engaged in the provision of highly engineered components, modules and services to the Aerospace, Energy and Medical markets worldwide. | |
The business is made up of 2 divisions: |
ā¢ | 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; Ā |
ā¢ | Energy and medical, engaged in the design and manufacture of machined and fabricated pressure and vacuum vessels and process plant and equipment for the power, oil & gas and medical markets. Plus, design and manufacture of fabricated poles and cabinets for roadside safety cameras and rail track signalling. |
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