Avingtrans PLC Metalcraft secures long-term contract with Cummins

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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 GBP3.6 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 GBP100m 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 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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August 16, 2017 02:00 ET (06:00 GMT)