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13 Feb 2013 10:00
AVINGTRANS PLC - Sigma signs £25m Long Term AgreementAVINGTRANS PLC - Sigma signs £25m Long Term Agreement
PR Newswire
London, February 13
13 February 2013
Avingtrans Plc ("Avingtrans" or the "Company" or the "Group") Sigma signs £25m Long Term Agreement ("LTA") with Safran AircelleAvingtrans (AIM:AVG), a manufacturer of critical components and associatedservices to the global aerospace, energy and medical sectors is pleased toannounce that Sigma Components - Farnborough Ltd, part of Avingtrans plc'sAerospace Division, has signed a long term agreement (LTA) with SafranAircelle.
Safran Aircelle is an existing client of the PFW Farnborough business thatAvingtrans acquired in December 2012. The contract, which is valued at circa £25 million of revenue to Avingtrans over its duration of 10 years, includes theexisting scope of the commercial agreement between the two companies and is tosupply various fabricated assemblies.
Mark Johnson, Managing Director of the Aerospace Division, commented:
"We are very pleased to announce this LTA with Safran Aircelle which is aresult of the ongoing integration of the Farnborough business and whichcontinues the impressive momentum that we have been building in the AerospaceDivision. Along with the LTA that we signed with Rolls Royce in December oflast year, we are building a good visibility of long term revenue which is anexcellent base from which we can continue to grow the business."
Enquiries:Avingtrans plc 0115 949 9020Steve McQuillan, CEOStephen King, CFONumisDavid 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 componentsand 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;• Energy and medical, engaged in the manufacture of machined and fabricated
pressure and vacuum vessels and components for the energy, medical, science
and research communities. Plus, design and manufacture of fabricated poles
and cabinets for roadside safety cameras and rail track signalling.
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