26 Jan 2009 07:00
Embargoed Release: 07:00hrs Monday 26 January 2009
Avingtrans plc
("Avingtrans" or the "Group")
New Contract
Avingtrans plc (AIM:AVG), the designer, manufacturer and supplier of critical components and associated services to the medical, energy, industrial and global aerospace sectors is pleased to announce its wholly owned subsidiary Jena Tec has secured a long term contract with a Chinese machine tool manufacturer.
Jena Tec, which is a designer and manufacturer of precision machine tool components with facilities in England, USA and Germany, has secured a long term contract with a customer in China to supply high precision spindles to be used in CNC turning machines.
Jena Tec's new customer in Asia will be producing highly accurate machine tools principally for export into Europe and North America and will utilise our high performance spindle to satisfy the demanding requirements of small precision turned components. The contract is for a period of five years and is worth in the region of £1.8m. Design will start immediately with first shipments expected in May/June 2009.
Steve McQuillan, Avingtrans plc, CEO commented: "We have won this contract against strong competition from Japanese and Korean suppliers and is a further endorsement of Jena Tec's continued success in this niche sector of high precision linear and rotary motion components."
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For further information please contact:
Avingtrans plc
Steve McQuillan
Tel: 0115 949 9020
Hansard Group
Adam Reynolds
020 7245 1100
Avingtrans (AVG)