Sigma signs ?55m contract win Rolls-Royce
1 October 2013
Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
Sigma signs £55m contract win Rolls-Royce
Second Landmark Long Term Agreement
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 Precision Components UK Ltd, part of the Group's Aerospace Division, has signed a 10 year long term agreement (LTA) with Rolls-Royce plc valued at £55m over its duration. The contract is to be sole supplier of self-locking nuts to Rolls-Royce and its supply chain.
This is the second LTA to be signed with Rolls-Royce within the last 12 months. In order to support the contract, Sigma will invest in additional manufacturing capability at its facilities in the UK and China.
Mark Johnson, MD of the Aerospace Division commented:
"We are pleased to have secured a second LTA from Rolls Royce, an agreement that supports both parties. Self-Locking Nuts are used extensively across a number of Rolls-Royce engines and, over the past four years, we are proud to have become the most competitive supplier for this range of products."
Steve McQuillan, CEO of Avingtrans, commented:
"This second landmark agreement for Sigma further underpins the Board's confidence in the Aerospace division."
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
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Avingtrans plc is engaged in the provision of highly engineered components and services to the Aerospace, Energy and Medical markets worldwide. |
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The business is made up of 2 divisions: |
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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;
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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.
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This information is provided by RNS
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