Sigma signs £25m Long Term Agreement
13 February 2013
Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
Sigma signs £25m Long Term Agreement ("LTA") with Safran Aircelle
Avingtrans (AIM:AVG), a manufacturer of critical components and associated
services to the global aerospace, energy and medical sectors is pleased to
announce that Sigma Components - Farnborough Ltd, part of Avingtrans plc's
Aerospace Division, has signed a long term agreement (LTA) with Safran
Aircelle.
Safran Aircelle is an existing client of the PFW Farnborough business that
Avingtrans acquired in December 2012. The contract, which is valued at circa £
25 million of revenue to Avingtrans over its duration of 10 years, includes the
existing scope of the commercial agreement between the two companies and is to
supply various fabricated assemblies.
Mark Johnson, Managing Director of the Aerospace Division, commented:
"We are very pleased to announce this LTA with Safran Aircelle which is a
result of the ongoing integration of the Farnborough business and which
continues the impressive momentum that we have been building in the Aerospace
Division. Along with the LTA that we signed with Rolls Royce in December of
last year, we are building a good visibility of long term revenue which is an
excellent base from which we can continue to grow the business."
Enquiries:
Avingtrans plc 0115 949 9020
Steve McQuillan, CEO
Stephen King, CFO
Numis
David Poutney (Corporate Broking) 0207 260 1000
Richard Thomas (Corporate Finance and Nominated Adviser)
Newgate Threadneedle 020 7653 9850
(Financial PR)
Josh Royston / Heather Armstrong
About Avingtrans
Avingtrans plc is engaged in the provision of highly engineered components
and services to the Aerospace, Energy and Medical markets worldwide.
The business is made up of 2 divisions:
• Aerospace, engaged in the manufacture of rigid pipe assemblies,
fabrications and prismatic components - both metallic and composite - for
the global aerospace market and precision polishing of aircraft components
and;
• Energy and medical, engaged in the manufacture of machined and fabricated
pressure and vacuum vessels and components for the energy, medical, science
and research communities. Plus, design and manufacture of fabricated poles
and cabinets for roadside safety cameras and rail track signalling.
•
D
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