Avingtrans Regulatory News (AVG)

17 Jan 2011 07:01

17 January 2011 Avingtrans plc ("Avingtrans" or "the Company") €2.2 m contract win for Industrial Products division

Avingtrans (AIM: AVG), a manufacturer of critical components and associated services to the medical, energy, industrial and global aerospace sectors, announces that its Jena Tec subsidiary (Industrial Products division) has signed a 3 year agreement with a leading European medical equipment manufacturer, where Jena Tec will supply high precision miniature ballscrews for use within a range of equipment by the customer.

The total contract value is approximately Euro 2.2m over three years and will commence in Q4 2011 before full production volumes are added in 2012.

The components within specialised medical equipment require suppliers of exceptional quality and delivery reliability and this agreement further bolsters Jena Tec's planned growth in this high tech area. Jena Tec continues to invest in this growing area of medical instrumentation through increased testing and production facilities at its state of the art German facility.

Steve McQuillan, Chief Executive of Avingtrans plc commented: "This is another example of Jena Tec's transformation to a full service industrial partner to our major customers and it clearly demonstrates the long-term commitment to world-class quality and delivery".

Enquiries:

Avingtrans plc 0115 949 9020 Steve McQuillan, CEO/ Stephen King, Finance Director Finncap 020 7600 1658 Marc Young / Henrik Persson - Corporate Finance Brian Patient / Steve Norcross - Corporate Broking Hansard Communications 020 7245 1100

Nicholas Nelson/Guy McDougall