21 February 2011
Avingtrans plc
("Avingtrans" or "the Company")
£5m Contract Extension for Aerospace Division
Avingtrans (AIM: AVG), the designer, manufacturer and supplier of critical
components and associated services to the energy, medical, industrial and
global aerospace sectors, announces that its C&H subsidiary (Aerospace
division) has signed a 3 year contract extension with its largest customer, a
market leading midlands based aerospace manufacturer.
The total contract extension value is approximately £5m over three years
starting from January 2011 and is a further continuation of the original
agreement of January 2006 to provide precision surface polishing and finishing
of a range of aerospace components to an exceptionally high quality level.
In continuing to provide services and products to this key customer, Avingtrans
believes that C&H is underpinned as a business with a solid base for continued
growth.
Steve McQuillan, Chief Executive, Avingtrans commented:
"It is great news that this customer recognises the quality of our products and
services and our exceptional delivery performance. Moreover, this builds on the
line of significant long term contracts that Avingtrans has signed with blue
chip customers over the last 18 months and is aligned to our goal of becoming a
supplier of choice to global manufacturing players in the Aerospace, Energy and
Medical markets."
Enquiries:
Avingtrans plc 0115 949 9020
Steve McQuillan, CEO/ Stephen King Finance Director
Finncap 020 7600 1658
Marc Young / Henrik Persson - Corporate Finance
Brian Patient / Steve Norcross - Corporate Broking
Hansard Communications 020 7245 1100
Nicholas Nelson/Guy McDougall