Completion of Acquisition

RNS Number : 0249R

Avingtrans PLC

04 March 2016

 

4 March 2016

Avingtrans Plc

("Avingtrans" or the "Company" or the "Group")

Completion of £3.5m Acquisition of Rolls-Royce pipe manufacturing business

Avingtrans (AIM:AVG) is pleased to announce that Sigma Components, which forms Avingtrans PLC's aerospace division, has successfully completed the acquisition of  Rolls-Royce's internal pipe manufacturing businesses, which was announced on 29 January 2016.

The consideration of £3.5m is being funded by the Company's existing debt facilities.

For further information, visit www.sigmacomponents.com

Enquiries:

Avingtrans plc Steve McQuillan, Chief Executive Officer Stephen King, Chief  Financial Officer	Tel: [phone]
Numis  David Poutney (Corporate Broking) Richard Thomas (Corporate Finance and Nominated Adviser)	Tel: [phone]
Newgate (Financial PR) Adam Lloyd Ed Treadwell	Tel: [phone]

About Avingtrans

Avingtrans plc is engaged in the provision of highly engineered components, modules and services to the Aerospace, Energy and Medical markets worldwide.

The business is made up of two divisions

Aerospace, engaged in the manufacture of rigid pipe assemblies, fabrications and prismatic components - both metallic and composite - for the global aerospace market and precision polishing of aircraft components and;

Energy and medical, engaged in the design and manufacture of machined and fabricated pressure and vacuum vessels and process plant and equipment for the power, oil & gas and medical markets. Plus, design and manufacture of fabricated poles and cabinets for roadside safety cameras and rail track signalling.

 

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