15th Feb 2016 08:10
LONDON (Alliance News) - Avingtrans PLC on Monday said it has secured two new contracts for its Energy & Medical division, including an airport scanners deal in the US.
The company, which makes components for the aerospace, medical and energy sectors, said it has signed an initial contract and three-year framework deal with California-based security screening provider Rapiscan worth GBP3.5 million.
Under the deal, Avingtrans will provide components for Rapiscan's RTT110 airport scanner, which recently passed the European Civil Aviation Conference's Standard 3 threat-detection test for baggage-borne explosive risks. This standard will become compulsory for airports globally by 2020, Avingtrans said.
In addition, Avingtrans' Stainless Metalcraft unit has signed a framework agreement with Bruker BioSpin AG, a Swiss analytical magnetic resonance instruments manufacturer. The deal, worth around GBP1.0 million a year, will see the Stainless Metalcraft unit make high integrity cryostat components for the Nuclear Magnetic Resonance systems made by Bruker.
"We are delighted to announce these important new work programmes with Rapiscan and Bruker. Both mark an important development in the ongoing diversification of the Energy and Medical division," said Austen Adams, the managing director of Avingtrans' Energy & Medical unit.
Shares in Avingtrans were up 3.6% to 115.00 pence on Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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