Last checked at 14 Apr 2015 07:00
14 March 2015
Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
Maloney Metalcraft secures Samsung contract
Avingtrans (AIM:AVG), which designs, manufactures and supplies critical components, modules and associated services to the aerospace, energy and medical sectors is pleased to announce that Maloney Metalcraft, part of Avingtrans plc's Energy and Medical Division, has secured a $3 million contract to design and manufacture a Glycol Regeneration Package for the Timimoun Field Development Project in south-western Algeria.
The contract with Samsung Engineering Co. Ltd - a Korean Engineering, Procurement and Construction contractor - is due for completion in March 2016.
The Timimoun Field Development Project is a joint venture between Sontract, Total and Compañía Española de Petróleos. A non-conventional gas project, it covers 2,500km2 and will ultimately include 40 wells, a gas gathering system, central gas processing facilities and a connection to the export pipeline. The development is expected to produce 1.6 billion cubic metres a year of natural gas over eight years.
Austen Adams, managing director of Avingtrans' Energy and Medical division, said: "The oil and gas industries are currently facing unprecedented challenges but securing this contract is welcome news for our business and recognises the expertise and strong delivery record we've developed in the sector - both when it comes to designing performance critical components and delivering on those designs."
Avingtrans plc Steve McQuillan, Chief Executive Officer Stephen King, Chief Financial Officer
| Tel: 01159 499 020 |
Numis David Poutney (Corporate Broking) Richard Thomas (Corporate Finance and Nominated Adviser)
| Tel: 0207 260 1000 |
Newgate (Financial PR) Adam Lloyd/Lois Engstrand | Tel: 020 7653 9850
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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 two 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;
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