2nd Apr 2014 09:39
LONDON (Alliance News) - Avingtrans PLC Wednesday said it won a 10-year deal with Rolls-Royce Holdings PLC to be the sole supplier of pipe assemblies for one of the engine maker's engine programmes.
In a statement, the maker of components for the aerospance, energy and medical sectors said the deal is worth about 25 million over the 10 years based on current predicted volumes.
Avingtrans said its Sigma Components aerospace business will invest in additional manufacturing capability at its facilities in the UK and China to support the contract.
"We are really pleased with the ongoing development with our biggest customer. This is the fourth long term agreement agreed with Rolls-Royce within the last 18 months having a combined value of over GBP180 million," said Mark Johnson, managing director of Avingtrans Aerospace Division.
Avingtrans shares were flat at 167.45 pence Wednesday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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