Metalcraft secures long-term contract with Cummins

RNS Number : 0970O

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 £3.6 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 £100m 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

 

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