6 September 2010
Avingtrans plc
("Avingtrans" or the "Group")
Contract Win
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 Metalcraft subsidiary (energy and
medical division) has been chosen by Siemens MR Magnet Technology to
manufacture precision machined formers for Siemens' next generation Magnetic
Resonance Imaging systems.
As the new product is introduced, it will flow into the overall rolling supply
agreement that Metalcraft has for supply of MRI subsystems to Siemens
Healthcare from both facilities in the UK & China. Once the product is in full
production in 2012, the annualised value of this new product to Metalcraft will
be approximately £5 million per annum.
Steve McQuillan, CEO of Avingtrans plc commented "We are delighted to be
entrusted by Siemens once again with the supply of critical precision vacuum
vessel components for their next generation products. This demonstrates the
on-going commitment of Metalcraft to maintain its position as an efficient,
high quality partner to Siemens Healthcare and underlines our credentials as a
world-class supplier to leading OEMs in our chosen markets."
www.avingtrans.plc.uk
Enquiries:
Avingtrans plc, Steve McQuillan, CEO Tel: +44 (0)115 949 9020
FinnCap Tel: +44 (0)20 7600 1658
Marc Young/ Henrik Persson - Corporate Finance
Brian Patient / Steve Norcross - Corporate
Broking
Hansard Communications, John Bick /Guy McDougall Tel: +44 (0)20 7245 1100
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