Strategic Contract Win

RNS Number : 5572P

Avingtrans PLC

05 October 2011

 



5 October 2011

AVINGTRANS PLC

("Avingtrans" or "the Company")

Strategic Contract Win

Avingtrans (AIM: AVG), a manufacturer of critical components and associated services to the medical, energy, industrial and global aerospace sectors, announces that its Jena Tec subsidiary (Industrial Products division) has signed a 2 year agreement with a growing European manufacturer of actuations systems. Jena Tec will supply its high precision ballscrew components into a demanding environment for industrial actuation, requiring high forces and durability. Jena Tec underwent a stringent product validation programme twelve months prior to this contract being awarded.

The total contract value is approximately Euro 0.75m over 2 years with supply beginning from the start of 2012, in line with market forecasts.

Actuation is a growing field for the Industrial Products division where environmental pressures, controllability and safety issues are causing older technologies, such as Hydraulics, to be rapidly replaced.

Paul Ward, Managing Director of the Industrial Products division, commented: "The Jena Tec team have been working hard to broaden the field of applications for our precision products. It is our expectation to reap the benefits of this developmental strategy in future years, as new products are introduced with our high tech, precision components already specified and proven".

Enquiries:

Avingtrans plc                                                                                            0115 949 9020

Steve McQuillan, CEO         

FinnCap                                                                                                      020 7600 1658              

Marc Young / Henrik Persson - Corporate Finance                             

Brian Patient / Steve Norcross - Corporate Broking                                                                     

Hansard                                                                                                      020 7245 1100

(Financial PR)

Guy McDougall/ Nicholas Nelson

 

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