Business
Sigma signs £75m deal with Rolls-Royce
Sigma signs £75m deal with Rolls-Royce.
About this update from Avingtrans Plc
[{"type":"text","content":"\n \nRNS Number : 1572R Avingtrans PLC 07 March 2016 \n\n07 March 2016\nAvingtrans Plc\n(\"Avingtrans\" or the \"Company\" or the \"Group\")\n \nSigma signs £75m deal with Rolls-Royce\n \nSigma Components, which forms Avingtrans PLC's aerospace division, has signed a ten year contract with Rolls-Royce valued at more than £75m to supply pipe assemblies for a range of engine programmes including the rapidly growing Trent XWB variants fitted to the Airbus A350.\n \nThe 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 £3.5m, which was announced on 29 January 2016.\n \nMark 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.\n \n\"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.\"\n \nSteve 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.\n \n\"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.\n \n\"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.\"\n \nFor further information, visit www.sigmacomponents.com\n \nEnquiries:\n \n\n\n\n\nAvingtrans plc\nSteve McQuillan, Chief Executive Officer\nStephen King, Chief Financial Officer\n \n\n\nTel: 01159 499 020\n\n\n\n\nNumis \nDavid Poutney / Tom Ballard (Corporate Broking)\nRichard Thomas (Corporate Finance and Nominated Adviser)\n \n\n\nTel: 0207 260 1000\n\n\n\n\nNewgate (Financial PR)\nAdam Lloyd\nEd Treadwell\n\n\nTel: 020 7653 9850\n \n\n\n\n\n \n \n \nAbout Avingtrans\n \nAvingtrans pl...