Last checked at 7 Mar 2016 07:00
07 March 2016
Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
Sigma signs £75m deal with Rolls-Royce
Sigma Components, which forms Avingtrans PLC's aerospace division, has signed a ten year contract with Rolls-Royce valued at more than £75m to supply pipe assemblies for a range of engine programmes including the rapidly growing Trent XWB variants fitted to the Airbus A350.
The 10-year contract follows the successful completion of Sigma's acquisition of Rolls-Royce's internal pipe manufacturing businesses in Nuneaton (UK) and Xi'an (China) for £3.5m, which was announced on 29 January 2016.
Mark Johnson, Managing Director of Avingtrans' aerospace division, said: "We're delighted to have completed this deal, which cements our position on strategically important engine programmes and provides a platform for growth across our product range in key markets.
"The assemblies will be manufactured across our facilities in the UK and China, providing a springboard for further recruitment as programmes such as Trent XWB grow significantly in the coming years."
Steve McQuillan, CEO of Avingtrans, said: "Sigma has developed a strong working relationship with Rolls-Royce since 2006, becoming a key delivery supplier in both home and emerging markets.
"Having recently expanded our capability in the UK and China, we are delighted with the trust that Rolls-Royce is placing in Sigma to deliver rigid pipes on key programmes.
"By delivering the contract across both our UK and Chinese operations, we can offer Rolls-Royce significantly improved commercial terms, combined with a confidence in the quality of components developed over many years."
For further information, visit www.sigmacomponents.com
Enquiries:
Avingtrans plc Steve McQuillan, Chief Executive Officer Stephen King, Chief Financial Officer
| Tel: 01159 499 020 |
Numis David Poutney / Tom Ballard (Corporate Broking) Richard Thomas (Corporate Finance and Nominated Adviser)
| 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, 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.