Last checked at 2 Apr 2014 07:00
2 April 2014
Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
Contract Win
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 c£25m over its duration based on the current predicted volumes.
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.
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 £180m."
Enquiries:
Avingtrans plc 0115 949 9020
Steve McQuillan, CEO
Stephen King, CFO
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
About Avingtrans
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: |
• | 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;
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• | 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. |