Avingtrans PLC Maloney Metalcraft secures Samsung contract
April 14 2015 - 2:01AM
RNS Non-Regulatory
TIDMAVG
Avingtrans PLC
14 April 2015
14 March 2015
Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
Maloney Metalcraft secures Samsung contract
Avingtrans (AIM:AVG), which designs, manufactures and supplies
critical components, modules and associated services to the
aerospace, energy and medical sectors is pleased to announce that
Maloney Metalcraft, part of Avingtrans plc's Energy and Medical
Division, has secured a $3 million contract to design and
manufacture a Glycol Regeneration Package for the Timimoun Field
Development Project in south-western Algeria.
The contract with Samsung Engineering Co. Ltd - a Korean
Engineering, Procurement and Construction contractor - is due for
completion in March 2016.
The Timimoun Field Development Project is a joint venture
between Sontract, Total and Compañía Española de Petróleos. A
non-conventional gas project, it covers 2,500km2 and will
ultimately include 40 wells, a gas gathering system, central gas
processing facilities and a connection to the export pipeline. The
development is expected to produce 1.6 billion cubic metres a year
of natural gas over eight years.
Austen Adams, managing director of Avingtrans' Energy and
Medical division, said: "The oil and gas industries are currently
facing unprecedented challenges but securing this contract is
welcome news for our business and recognises the expertise and
strong delivery record we've developed in the sector - both when it
comes to designing performance critical components and delivering
on those designs."
Avingtrans plc Tel: 01159
Steve McQuillan, Chief Executive 499 020
Officer
Stephen King, Chief Financial
Officer
Numis Tel: 0207
David Poutney (Corporate Broking) 260 1000
Richard Thomas (Corporate Finance
and Nominated Adviser)
Newgate (Financial PR) Tel: 020 7653
Adam Lloyd/Lois Engstrand 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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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