Avingtrans PLC Energy Steel Secures Nuclear Contract worth $4.1m

TIDMAVG

Avingtrans PLC

21 March 2022

21 March 2022

Avingtrans Plc

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

Energy Steel Secures Nuclear Contract worth $4.1m

Avingtrans PLC (AIM: AVG), which designs, manufactures and supplies critical components, modules, systems and associated services to the energy, medical and industrial sectors, is pleased to announce Energy Steel has been awarded a $4.1M contract from Nuclear Waste Partnership LLC.

Energy Steel , part of the Engineered Pumps and Motors Division of Avingtrans plc and leader in high quality components, fabrications, and materials for the nuclear energy sector, has been awarded a $4.1M contract from Nuclear Waste Partnership LLC . The contract, which is expected to be completed by June 2023 , includes the supply of materials and subassemblies required for the waste isolation pilot plant (WIPP) , the nation's only deep geological long-lived radioactive waste repository. The materials and subassemblies will be used in the construction of the TRUPACT-II and HalfPACT Type B packages developed by the U.S. Department of Energy. Both packages are utilized as a safe means for the transportation of transuranic materials and designed to reduce the number of radioactive shipments.

Drew Baker, President of Energy Steel, commented:

" We're delighted that Energy Steel continues to gather momentum and this contract supports continuing growth. Energy Steel has been serving the nuclear industry over the last 40 years, and we are honored to support one of the most ambitious energy projects in the world today . "

Enquiries:

 
 Avingtrans plc                               01354 692391 
 Roger McDowell, Chairman 
  Steve McQuillan, Chief Executive Officer 
  Stephen King, Chief Financial Officer 
 Singer Capital Markets (Nominated Adviser 
  and Broker)                                 02074 963000 
 Shaun Dobson 
  Alex Bond 
  Oliver Platts 
  Rachel Hayes 
 IFC Advisory (Financial PR)                  020 3934 6630 
 Graham Herring 
  Tim Metcalfe 
  Zach Cohen 
 

About Avingtrans plc:

Avingtrans designs, manufactures and supplies original equipment, systems and associated aftermarket services to the energy, medical and industrial markets worldwide.

Business units

 
Hayward Tyler - Luton & East Kilbride, UK and USA, China and India 
 
 Specialises in the design, manufacture and servicing of performance-critical 
 motors and pumps for challenging environments. 
 
 Energy Steel, Inc - Rochester Hills, Michigan, USA 
 
 Energy Steel, part of the Engineered Pumps and Motors Division of Avingtrans 
 plc, has been serving the nuclear power industry since 1982 with capabilities 
 in equipment fabrication, material supply, precision machining, engineering, 
 and repair services. Through strategic OEM partnerships, it also provides solutions 
 for obsolete nuclear components and support for the most complex projects. 
 
 Stainless Metalcraft Ltd - Chatteris, 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. 
 
 Booth Industries - Bolton, UK 
 
 Designs, manufactures, installs and services doors and walls which can be tailored 
 to be: blast &explosion proof; fireproof; acoustically shielded; high security/safety; 
 or combinations of the above 
 
 Ormandy Group, Bradford, UK 
 
 Design, manufacturers and servicing of off-site plant, heat exchangers and other 
 HVAC (heating, ventilation and air conditioning) products 
 
 Composite Products Ltd - Buckingham, UK 
 
 Centre for composite technology, parts and assemblies, serving customers in 
 industrial markets. 
 
 Magnetica Ltd - Brisbane, Australia 
 
 Magnetica Limited specialises in the development of next generation MRI technologies, 
 including dedicated extremity MRI systems and MRI system components. Magnetica 
 has successfully built and tested a compact, integrated 3 Tesla orthopaedic 
 MRI system, demonstrating clinical-quality imaging. Commercialisation of this 
 system (and others) is on-going. Magnetica's structure now includes two other 
 business units: 
 
 Scientific Magnetics - Abingdon, UK 
 
 Designs and manufactures superconducting magnet systems and associated cryogenics 
 for a variety of markets including MRI and provides services for Nuclear Magnetic 
 Resonance instruments. 
 
 Tecmag Inc, Houston, USA 
 
 Designs, manufactures and installs instrumentation, including consoles, system 
 upgrades, and probes, mainly for Magnetic Resonance Imaging (MRI) and Nuclear 
 Magnetic Resonance (NMR) systems. 
 

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March 21, 2022 03:00 ET (07:00 GMT)