Acquisition

Avingtrans PLC 01 September 2003 Avingtrans Plc Acquisition 1 September 2003 Avingtrans Plc ('Avingtrans' or 'the Company'), the Aim listed actuator products and services group, is pleased to announce the acquisition of the assets, intellectual property and ongoing business interests of Boneham & Turner Spindles ('BTS'), a division of Boneham & Turner Limited of Mansfield, Nottinghamshire. The acquisition will be financed from the Company's existing working capital. BTS is a leading supplier of precision spindles for industrial applications in the machinery and automation markets of the UK, USA and Asia. Avingtrans will amalgamate the acquired assets and business interests of BTS with its subsidiary, Jena Rotary Technology Limited. The enlarged business will be housed in a new special purpose facility in Nottinghamshire. Jena Rotary Technology Limited is a manufacturer of precision actuators and precision spindles and the UK agent for GMN, a leading German manufacturer of high precision spindles. Ken Baker, Chairman of Avingtrans said 'The acquisition of BTS represents a significant strengthening of Avingtrans' world wide spindle business and will enable Avingtrans to provide a more comprehensive supply and maintenance service to its customers'. Enquiries Avingtrans plc Steve Lawrence, Chief Executive 01159 499020 This information is provided by RNS The company news service from the London Stock Exchange

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Avingtrans (AVG)
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