TIDMAVG

Avingtrans PLC

06 July 2015

6 July 2015

Avingtrans Plc

("Avingtrans" or the "Company" or the "Group")

Sale of Aldridge Site

Avingtrans (AIM:AVG), which designs, manufactures and supplies critical components, modules and associated services to the aerospace, energy and medical sectors, announces the sale of the Aldridge site realising GBP1.1m net of costs.

The Aldridge site houses the Maloney Metalcraft business and the sale of the facility forms part of the restructuring programme announced in the Trading Update of 24 November 2014, as the Group develops a more global and competitive third party supply chain to support its continued growth. The front engineering and technical offices of the Aldridge facility will be leased back to Maloney Metalcraft allowing the design and engineering activities to remain at the site.

Austen Adams, Managing Director of the Energy and Medical Division, commented:

"I am pleased to have successfully concluded the sale of the Aldridge site in line with our stated restructuring plans. This deal delivers value to our shareholders and allows Maloney Metalcraft's design and engineering team to remain at Aldridge, thereby avoiding any disruption to their continuing business operations."

Enquiries:

 
 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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