Avingtrans Wins Sonaca Contract -- Update

(Rewrites, adds detail.)

By Simon Zekaria

LONDON--Avingtrans PLC (AVG.LN), an aerospace, energy and medical sectors components manufacturer, said Friday that Sigma Components, part of the company's aerospace division, signed a contract with Belgian aerospace company Sonaca to supply aircraft manufacturers Airbus Group SE (AIR.FR), Bombardier Inc. (BDRBF) and Embraer SA (EMBR3.BR).

The contract, worth 5 million pounds ($7.92 million) of revenue over five years, will see Sigma becoming the sole supplier to Sonaca for assemblies in anti-icing systems. It was signed during the Paris Air Show and will be managed from the company's Farnborough site, it said in a statement.

"Sigma has been very active at the Paris Air Show this week, opening up new opportunities and building on the Sigma brand and the new technologies we have been developing," said Mark Johnson, managing director of Sigma Components.

At 0902 GMT, shares rose 1.8% to 113 pence, valuing the company at GBP31 million. FinnCap analyst David Buxton said the stock is attractively valued, which raises investor sentiment.

At the end of February, Avingtrans posted a fall in revenue after it was hit by lower customer wins in the aerospace industry.

Write to Simon Zekaria at [e-mail]

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