Business
Investment & Trading Update
Investment & Trading Update.
About this update from Avingtrans Plc
[{"type":"text","content":"\n \nFor immediate release: 7 June 2007\n\n Avingtrans Plc \n\n (\"Avingtrans\" or the \"Group\") \n\nInvestment in Vehicle Occupancy Limited\n\nAvingtrans plc, the designer, manufacturer and supplier of critical components\nand associated services to the medical, industrial and global aerospace\nsectors, in pleased to announce an investment in Vehicle Occupancy Limited\n(\"VOL\").\n\nAvingtrans is now the beneficial owner of a 7% interest in VOL resulting from\nits investment of £200,000. VOL has developed and patented a new system\ndesigned to observe and record human occupancy in cars, vans and lorries in\nboth moving and static situations. VOL has awarded Avingtrans with a five year\nsupply and management agreement for poles, housings, assembly and installation.\n\nThe system was developed by Dr John Tyrer and his team at Loughborough\nUniversity and been tested extensively. In its final form the new `dtect\ncamera' is planned to become a major management tool in traffic control\nworldwide. The system will make it easier to enforce priority lanes for car\nsharing initiatives and for differential tolling on roads, bridges, tunnels and\ncar parks.\n\nKen Baker of Avingtrans Plc has been appointed as Chairman of VOL with\nimmediate effect.\n\nKen Baker commented,\n\n\"The use of vehicle occupancy detection systems has been widely acknowledged as\na major instrument in the future of worldwide traffic management. VOL is at the\nforefront of this technology and we are delighted to have acquired a 7%\ninterest and a long term exclusive supply agreement at this stage of its\ndevelopment.\n\nVOL has plans for a series of tests and demonstrations for The Highways Agency\nand interested City Councils over the next two months. We look forward to\nreporting the progression of their business.\"\n\nAerospace Division - Trading Update\n\nThe Company is further pleased to announce that its newly established aerospace\ncomponent manufacturing facility in Chengdu, China, operating as Sigma, has\nreceived all the necessary accreditation for the supply of its components to\nEurope and the United States. A number of orders and significant supply\nenquiries for both these regions are currently being processed.\n\nAvingtrans - Directorate Update\n\nKen Baker is to postpone his planned retirement as Chairman. He will continue\nto work with the Avin...