Avingtrans PLC Long Term Airbus Contract Announcement (1310Y)
November 27 2014 - 2:01AM
UK Regulatory
TIDMAVG
RNS Number : 1310Y
Avingtrans PLC
27 November 2014
27 November 2014
Avingtrans plc
("Avingtrans" or "the Company")
Long Term Airbus Contract Announcement
Avingtrans (AIM:AVG), a manufacturer of critical components and
associated services to the global aerospace, energy and medical
sectors is pleased to announce that Sigma Components, the Group's
Aerospace Division, has signed a 10 year long term agreement (LTA)
with PFW Aerospace GmbH (part of Airbus) valued at cGBP25m over its
duration based on the current predicted volumes.
The contract is to be sole supplier of selected fabricated
assemblies on the Airbus A350 programme. In order to support the
contract, Sigma will invest in additional manufacturing
capabilities at its facility in Farnborough.
Mark Johnson, Managing Director of Avingtrans Aerospace Division
commented "We are really pleased with the ongoing development of
our relationship with PFW, a customer that offers significant
potential for Sigma. As well as being our first major deal for an
Airbus aircraft it is also the fifth major LTA that Sigma has
signed with an increasingly diverse customer base in the last 24
months, having a total value of over GBP200m."
Avingtrans plc
Steve McQuillan, Chief Executive Officer Tel: 01159 499
Stephen King, Chief Financial Officer 020
Numis
David Poutney (Corporate Broking) Tel: 0207 260
Richard Thomas (Corporate Finance and Nominated 1000
Adviser)
Newgate Threadneedle (Financial PR)
Heather Armstrong /Adam Lloyd Tel: 020 7653
9850
About Avingtrans
Avingtrans plc is engaged in the provision of highly engineered
components and 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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