21st Feb 2011 07:00
21 February 2011 Avingtrans plc ("Avingtrans" or "the Company") £5m Contract Extension for Aerospace Division
Avingtrans (AIM: AVG), the designer, manufacturer and supplier of critical components and associated services to the energy, medical, industrial and global aerospace sectors, announces that its C&H subsidiary (Aerospace division) has signed a 3 year contract extension with its largest customer, a market leading midlands based aerospace manufacturer.
The total contract extension value is approximately £5m over three years starting from January 2011 and is a further continuation of the original agreement of January 2006 to provide precision surface polishing and finishing of a range of aerospace components to an exceptionally high quality level.
In continuing to provide services and products to this key customer, Avingtrans believes that C&H is underpinned as a business with a solid base for continued growth.
Steve McQuillan, Chief Executive, Avingtrans commented:
"It is great news that this customer recognises the quality of our products and services and our exceptional delivery performance. Moreover, this builds on the line of significant long term contracts that Avingtrans has signed with blue chip customers over the last 18 months and is aligned to our goal of becoming a supplier of choice to global manufacturing players in the Aerospace, Energy and Medical markets."
Enquiries:Avingtrans plc 0115 949 9020 Steve McQuillan, CEO/ Stephen King Finance Director Finncap 020 7600 1658 Marc Young / Henrik Persson - Corporate Finance Brian Patient / Steve Norcross - Corporate Broking Hansard Communications 020 7245 1100
Nicholas Nelson/Guy McDougall
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