Acquisition of Aerospace Assets

16 November

                                Avingtrans plc                                 

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

                        Acquisition of Aerospace Assets                        

Avingtrans plc, which designs, manufactures and supplies critical components
and associated services to the global aerospace, energy, and medical sectors,
announces that it has agreed to acquire the trade and certain business assets
and liabilities relating to the manufacture of aerospace components from PFW UK
Limited's Farnborough site ("PFW Farnborough" and the "Acquisition") for a cash
consideration of £1.85 million. The acquisition is due to be completed on 3
December 2012, following the completion of final targeted due diligence and
employee consultation.

Highlights of the Acquisition:

  * Strengthens the Group's Aerospace division
   
  * Cash consideration of £1.85m
   
  * Reinforces Avingtrans' position with certain existing customers as well as
    introducing new customers to the Group
   
  * Broadens process and design capabilities to expand aerospace market
    offering
   
Information on the assets being acquired

The principal activity of the PFW Farnborough business is the manufacture of a
wide range of precision aerospace components, from pipes and ducts to airframe
structures. The directors of Avingtrans (the "Board") believe that the
Acquisition enhances the Group's Aerospace components and sub-assemblies
offering and the Board are pleased to have taken further steps in implementing
the Group's strategy, outlined recently after the disposal of the Company's
Industrial Products division. PFW Farnborough has a number of customers in
common with Avingtrans, as well as several customers with whom the Company has
no existing commercial relationship. The Board therefore believes that the
acquisition will both strengthen its current portfolio and also add valuable
new sales channels.

PFW Farnborough generated revenues of £7.5 million* and a trading loss of £1.8
million* during the year ended 31 December 2011. However, the Board believes
that its current run rate and the potential is materially higher. The net book
value of the assets and liabilities being acquired has been valued at £2.3m
million as at 30 September 2012*. PFW Farnborough employs 102 people in the UK,
all of whom are expected to transfer to Avingtrans following an appropriate
consultation process.

Steve McQuillan, Chief Executive of Avingtrans commented:

"The recent sale of Jena Tec provided us with a more focused business and the
means to invest in our core activities, including in our thriving Aerospace
division. This acquisition will further strengthen our position in the
aerospace pipes market, making us a leading player in this niche in the UK. We
will develop the PFW Farnborough capabilities to broaden our product offering
and thus expand our aerospace supply footprint.

"With the proceeds from the Jena Tec disposal, we will continue to explore
opportunities which would improve our customer reach and thereby further
strengthen our position in this attractive market."

* Source: PFW Farnborough unaudited management information, prepared under
generally accepted accounting principles in the UK

                                    -ends-                                     

Avingtrans plc                           Tel: [phone]                   
                                                                              
Steve McQuillan, Chief Executive Officer                                      
                                                                              
finnCap (Nominated Advisor & Broker)     Tel: [phone]                   
                                                                              
Marc Young/ Henrik Persson                                                    
                                                                              
Newgate Threadneedle(Financial PR)       Tel: [phone]                   
                                                                              
Josh Royston