Avingtrans PLC Metalcraft secures long-term contract with Cummins
16 August 2017 - 4:00PM
RNS Non-Regulatory
TIDMAVG
Avingtrans PLC
16 August 2017
16 August 2017
Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
Metalcraft secures long-term contract with Cummins
Avingtrans (AIM: AVG), which designs, manufactures and supplies
critical components, modules and associated services to the energy,
medical and traffic management sectors is pleased to announce that
Stainless Metalcraft (Chatteris) Ltd. (Metalcraft), has secured a
framework contract for the Group's Energy Division with Cummins
Inc., a producer of diesel and alternative fuel engines and
electrical generator sets, worth an additional GBP3.6 million in
revenue to Metalcraft over 3 years.
Building on Metalcraft's longstanding relationship with Cummins,
this framework agreement provides for the supply of fabricated
generator stator frames over the next 3 years with a follow on 1
year rolling commitment. Metalcraft will maintain a dedicated motor
frame production facility to support this activity.
This latest long-term agreement brings the total value of such
agreements to more than GBP100m over the last three and a half
years.
Austen Adams, Managing Director of Metalcraft and Avingtrans
Plc's Energy and Medical division, said: "This is another
significant step forward for Metalcraft in the energy market. The
addition of another long-term contract is entirely consistent with
our strategy of building a portfolio of strong forward
commitments."
Steve McQuillan, Chief Executive Officer of Avingtrans Plc,
added: "The Board is delighted that Metalcraft has secured this
long-term contract with Cummins. Metalcraft's ability to win
extended commitments from significant global operators such as
Cummins is a testament to the expertise and hard work of the
Metalcraft team. Metalcraft continues to underline its position as
a leading player in its chosen markets and has further highlighted
its status as a world class business."
Enquiries:
Avingtrans plc
Steve McQuillan, CEO
Stephen King, CFO 0135 469 2391
N+1 Singer
Shaun Dobson
Lauren Kettle 020 7496 3000
Newgate Communications
(Financial PR)
Adam Lloyd
Ed Treadwell
James Browne 020 7653 9850
About Avingtrans
Avingtrans is engaged in the provision of highly engineered
components, systems and services to the energy, medical, and
traffic management industries worldwide.
Stainless Metalcraft (Chatteris ) Ltd - UK and
Chengdu, China
Provider of safety-critical equipment for the
energy, medical, science and research communities,
worldwide, specialising in precision pressure
and vacuum vessels and associated fabrications,
sub-assemblies and systems.
Maloney Metalcraft Ltd - Aldridge, UK
Designs, manufactures and services oil and gas
extraction and processing equipment, including
process plant for dehydration, sweetening, drying
and compression.
Crown International Ltd - Portishead, UK
Designs and manufactures market-leading pole
and support systems for roadside signage and
safety cameras, rail track signalling and gantries.
Composite Products Ltd - Buckingham, UK
Centre for composite technology, parts and assemblies,
serving customers in industrial markets.
Scientific Magnetics - Abingdon, UK
Designs and manufactures superconducting magnet
systems and associated cryogenic systems for
a variety of markets
This information is provided by RNS
The company news service from the London Stock Exchange
END
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