7 September 2010
Avingtrans plc
("Avingtrans" or the "Group")
Aerospace Division Contract Wins
Avingtrans (AIM:AVG), the designer, manufacturer and supplier of critical
components and associated services to the energy, medical, industrial and
global aerospace sectors, announces the following contract wins by its
Aerospace Division with a total worth in excess of £10 million over the next 5
years.
Sigma Precision Components has signed a strategic long term agreement with
Eaton Aerospace to supply machined components and pipe assemblies, worth £8
million over 5 years. This includes a recent project to absorb 180 outsourced
machined component part numbers, worth £300,000 per annum, run by a dedicated
Sigma project team working closely with their counterparts at Eaton Aerospace.
Sigma has also successfully supplied first article samples of titanium pipe
assemblies to Eaton at Titchfield. Orders have now been placed for an initial
production run worth £500,000 with the prospect of further orders in 2011.
Eaton Aerospace is now the second largest customer in Avingtrans' aerospace
division.
In addition, Sigma Precision Components UK has signed a global purchasing
agreement with Meggitt to supply precision machined components, being the first
Meggitt supplier to do so. This secures £2 million of business with the
Meggitt sites in the UK and China over the next 3 years and provides a firm
platform from which to win additional contracts. Recent wins include orders
for machined parts for the BR725 engine programme supplied to Meggitt Control
Systems' site in Coventry.
Steve McQuillan, CEO of Avingtrans, said:
"Following the recent name change of B&D Patterns to Sigma Precision Components
UK, these are significant new contract wins for Sigma and the longer term
agreements demonstrate its growing reputation supplying the highest quality
products into the aerospace industry. Key Aerospace OEMs increasingly see Sigma
UK and Sigma China as one unit and as a strategic supply chain partner for long
term development".
www.avingtrans.plc.uk
Enquiries:
Avingtrans plc, Steve McQuillan, CEO Tel: +44 (0)115 949 9020
FinnCap Tel: +44 (0)20 7600 1658
Marc Young/ Henrik Persson - Corporate Finance
Brian Patient / Steve Norcross - Corporate Broking
Hansard Communications, John Bick /Guy McDougall Tel: +44 (0)20 7245 1100
Translate
