Completion of Disposal

RNS Number : 5726Z

Avingtrans PLC

27 May 2016

 

27 May 2016

Avingtrans Plc

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

Completion of Disposal of Aerospace Division

Further to the announcement made on 4 May 2016, Avingtrans (AIM:AVG) announces that it has completed the sale of the Aerospace Division to Anthony Bidco Limited a company controlled by funds managed by Silverfleet Capital Partners LLP.

Enquiries:

Avingtrans plc Steve McQuillan, Chief Executive Officer Stephen King, Chief  Financial Officer	Tel: [phone]
Numis  Richard Thomas (Corporate Finance and Nominated Adviser) Tom Ballard (Corporate Broking)	Tel: [phone]
Newgate (Financial PR) Adam Lloyd Ed Treadwell	Tel: [phone]

About Avingtrans

Avingtrans plc is engaged in the provision of highly engineered components, systems and services to the energy, medical and traffic management industries worldwide.       

Energy and medical, engaged in the design and manufacture of safety critical equipment for the energy, medical, science and research communities, including oil and gas extraction and processing equipment, nuclear process plant, machined and fabricated pressure and vacuum vessels and components. Also, design and manufacture of fabricated poles and cabinets for roadside safety cameras and rail track signalling.

The strategy of the group, is to "buy and build" in regulated engineering niche markets, where we can see potential consolidation opportunities, which can lead to significantly increased shareholder value over the medium to long term.

 

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