Last checked at 2 Aug 2016 07:00
02 August 2016
Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
Maloney Metalcraft signs £3.5m contract with EDF
Avingtrans (AIM:AVG), a manufacturer of critical components and associated services to the global energy and medical sectors, is pleased to announce that Maloney Metalcraft, part of Avingtrans PLC's Energy & Medical division, has secured a contract with EDF Energy, worth £3.5m, to supply components for their current fleet of seven nuclear power stations across the UK.
Maloney Metalcraft will supply gas-cooling process-critical valves for each of the seven EDF managed Advanced Gas-Cooled Reactors around the country (Dungeness B, Hinkley Point B, Hunterson B, Hartlepool, Heysham 1, Heysham 2 and Torness). The contract is part of a life extension programme that will also see Maloney Metalcraft providing engineering support and on-site services to EDF Energy as part of the deal. These contracts will continue until the end of life of the stations.
Austen Adams, managing director of Avingtrans Energy & Medical Division, said: "The contract win is good news for the business and recognises the expertise we've developed in what is truly a performance-critical sector.
"The Maloney Metalcraft team designed and supplied the original Carbon Dioxide gas drying systems for the stations back in the 1970s but, with further delays to the Hinkley Point C programme, extending the life of these older nuclear power stations has become critical to keeping the lights on across the UK."
Steve McQuillan, Chief Executive Officer of Avingtrans plc, added: "The Board is delighted that Maloney Metalcraft has secured another important contract in the nuclear sector. It underlines the Board's decision to invest in the Energy and Medical business and, specifically, to strengthen Maloney Metalcraft's position in this market."
For further information, visit www.maloney-metalcraft.com
Enquiries:
Avingtrans plc Steve McQuillan, Chief Executive Officer Stephen King, Chief Financial Officer
| Tel: 01159 499 020 |
Numis Richard Thomas (Corporate Finance and Nominated Adviser) Tom Ballard (Corporate Broking)
| Tel: 0207 260 1000 |
Newgate (Financial PR) Adam Lloyd Ed Treadwell | Tel: 020 7653 9850
|
About Avingtrans
Avingtrans plc is engaged in the provision of highly engineered components, systems and services to the energy, medical and traffic management industries worldwide.
Energy and medical, engaged in the design and manufacture of safety critical equipment for the energy, medical, science and research communities, including oil and gas extraction and processing equipment, nuclear process plant, machined and fabricated pressure and vacuum vessels and components. Also, design and manufacture of fabricated poles and cabinets for roadside safety cameras and rail track signalling.
The strategy of the group, is to "buy and build" in regulated engineering niche markets, where we can see potential consolidation opportunities, which can lead to significantly increased shareholder value over the medium to long term