Settlement of Claim

17 Jul 2009 15:01



Avingtrans plc (the "Group")

Settlement of claim

Avingtrans plc is pleased to announce that settlement has been reached in respect of the Group's claim against the vendors of B&D Patterns Ltd ("B&D") relating to the purchase of B&D by Avingtrans plc on 21 September 2006 as highlighted in the 2008 Chairman's Statement. 

Under the settlement, the vendors of B&D have agreed to pay Avingtrans £1.25 million inclusive of costs.

Commenting on the settlement, Steve McQuillan, Chief Executive of Avingtrans, said: 

"I am very pleased that an amicable agreement has been reached with the vendors of B&D which I believe represents a fair resolution of our claim".

 Enquiries:

Steve McQuillan, CEO

0115 949 9020