TIDMAVG

RNS Number : 1572R

Avingtrans PLC

07 March 2016

07 March 2016

Avingtrans Plc

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

Sigma signs GBP75m deal with Rolls-Royce

Sigma Components, which forms Avingtrans PLC's aerospace division, has signed a ten year contract with Rolls-Royce valued at more than GBP75m to supply pipe assemblies for a range of engine programmes including the rapidly growing Trent XWB variants fitted to the Airbus A350.

The 10-year contract follows the successful completion of Sigma's acquisition of Rolls-Royce's internal pipe manufacturing businesses in Nuneaton (UK) and Xi'an (China) for GBP3.5m, which was announced on 29 January 2016.

Mark Johnson, Managing Director of Avingtrans' aerospace division, said: "We're delighted to have completed this deal, which cements our position on strategically important engine programmes and provides a platform for growth across our product range in key markets.

"The assemblies will be manufactured across our facilities in the UK and China, providing a springboard for further recruitment as programmes such as Trent XWB grow significantly in the coming years."

Steve McQuillan, CEO of Avingtrans, said: "Sigma has developed a strong working relationship with Rolls-Royce since 2006, becoming a key delivery supplier in both home and emerging markets.

"Having recently expanded our capability in the UK and China, we are delighted with the trust that Rolls-Royce is placing in Sigma to deliver rigid pipes on key programmes.

"By delivering the contract across both our UK and Chinese operations, we can offer Rolls-Royce significantly improved commercial terms, combined with a confidence in the quality of components developed over many years."

For further information, visit www.sigmacomponents.com

Enquiries:

 
 Avingtrans plc                                     Tel: 01159 499 
  Steve McQuillan, Chief Executive Officer           020 
  Stephen King, Chief Financial Officer 
 Numis                                              Tel: 0207 260 
  David Poutney / Tom Ballard (Corporate Broking)    1000 
  Richard Thomas (Corporate Finance and Nominated 
  Adviser) 
 Newgate (Financial PR)                             Tel: 020 7653 
  Adam Lloyd                                         9850 
  Ed Treadwell

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

CNTAKQDDABKDKNK

(END) Dow Jones Newswires

March 07, 2016 02:00 ET (07:00 GMT)

Avingtrans (LSE:AVG)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Avingtrans Charts.
Avingtrans (LSE:AVG)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Avingtrans Charts.