TIDMAVG
Avingtrans PLC
02 June 2021
2 June 2021
Avingtrans plc
("Avingtrans" or the "Company")
Booth Industries Reincorporates for International Future
Avingtrans plc, which designs, manufactures and supplies
critical components, modules, systems and associated services to
the energy, medical and industrial sectors, is pleased to announce
that Booth Industries has reincorporated as Booth Industries
International Ltd (Booth Industries) and has become a standalone
company, independent of its current parent company Stainless
Metalcraft, from 1 June 2021.
The move follows a remarkable turnaround at Booth Industries
that has seen the Nelson-Street based manufacturer exceed all
internally set performance targets since it was acquired out of
administration in 2019.
The reincorporation and international focus do not mean Booth
Industries is moving away from its Bolton roots, but reflects its
capability to provide specialist solutions to customers around the
world. As part of its wider investment programme, the business has
recently laid the foundations for a new state-of-the-art
manufacturing facility at its Nelson-Street site, that will bring
its overall UK capacity to 6,400m2. As well as expanding its
specialist manufacturing floor space, the new development - which
is due to open later this year - will see investment in new
materials handling equipment, Factory Acceptance Testing (FAT)
facilities and improved site welfare.
Booth Industries will remain part of Avingtrans PLC's Process
Equipment and Rotating Solutions (PSRE) division.
Mike Jenkinson, Managing Director at Booth Industries, said :
"This is a landmark moment for the business and one I'm
tremendously proud we are able to move forward with.
"Historically, Booth Industries enjoyed an international
reputation as a leading supplier of performance-certified,
specialist doors and walls but it experienced difficult times prior
to its acquisition by Stainless Metalcraft. The whole team has
worked tremendously hard since that time to understand the
strengths and weaknesses of the business, investing time and
resources to update our systems and hone our strategy, to focus on
areas of genuine strength and opportunity.
"We believe we now have a world-leading offer and, with strong
financial and operational foundations firmly established, we are
well placed to make the most of these opportunities around the
world. The reincorporation and resultant rebrand reflects our
revised, international focus and, by operating as a
wholly-independent business unit, we can focus fully on taking the
business to the next level."
Austen Adams, Managing Director of Avingtrans' PRSE division,
added : "Since we acquired the business in 2019, the Booth team has
worked tirelessly to turn the business around, re-building
confidence in key sectors and securing (as previously disclosed)
over GBP70 million of orders, including major contracts with
Crossrail, HS2 and other critical national infrastructure
projects.
"Having made such progress and invested in new systems that will
enable the business to operate more efficiently, we believe the
time is right to reincorporate and reposition the business, to
continue along its growth trajectory as an independent entity with
a global capability."
Enquiries:
Avingtrans plc 01354 692391
Roger McDowell, Chairman
Steve McQuillan, Chief Executive Officer Stephen King,
Chief Financial Officer
N+1 Singer (Nominated Adviser) 02074 963000
Shaun Dobson/Alex Bond (Corporate Finance)
Rachel Hayes (Corporate Broking)
SEC Newgate (Financial PR) 02076 539850
Adam Lloyd/ Tom Carnegie
About Avingtrans plc:
Avingtrans designs, manufactures and supplies original
equipment, systems and associated aftermarket services to the
energy, medical and industrial markets worldwide.
Business units
Hayward Tyler - Luton & East Kilbride, UK and USA, China and India
Specialises in the design, manufacture and servicing of performance-critical
motors and pumps for challenging environments.
Energy Steel, Inc - Lapeer, Michigan, USA
Provider of custom fabrications for the nuclear industry, specialising in:
OEM parts obsolescence; custom fabrications; engineering design solutions;
product refurbishment; on-site technical support.
Stainless Metalcraft Ltd - Chatteris, 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.
Booth Industries - Bolton, UK
Designs, manufactures, installs and services doors and walls which can be
tailored to be: blast &explosion proof; fireproof; acoustically shielded;
high security/safety; or combinations of the above
Ormandy Group, Bradford, UK
Design, manufacturers and servicing of off-site plant, heat exchangers and
other HVAC (heating, ventilation and air conditioning) products
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 cryogenics
for a variety of markets including MRI and provides services for Nuclear
Magnetic Resonance instruments.
Tecmag Inc, Houston, USA
Designs, manufactures and installs instrumentation, including consoles,
system upgrades, and probes, mainly for Magnetic Resonance Imaging (MRI)
and Nuclear Magnetic Resonance (NMR) systems.
Magnetica Ltd - Brisbane, Australia
Magnetica Limited specialises in the development of next generation MRI
technologies, including dedicated extremity MRI systems and MRI system components.
Magnetica has remained at the forefront of MRI systems technology, successfully
designing and commercialising a 1.5 Tesla extremity MRI superconducting
magnet that is now the heart of over two hundred MRI systems world-wide.
Magnetica has successfully built and tested a compact, integrated 3 Tesla
orthopaedic MRI system, demonstrating clinical-quality imaging. Commercialisation
of this system (and others) is on-going.
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