Avingtrans PLC Hayward Tyler Opens New Factory in China

TIDMAVG

Avingtrans PLC

16 January 2019

16 January 2019

Avingtrans Plc

("Avingtrans")

Hayward Tyler Opens New Factory in China

Avingtrans PLC (AIM: AVG), which designs, manufactures and supplies critical components, modules and associated services to the energy and medical sectors, is pleased to announce that its subsidiary, Hayward Tyler, has formally opened its new state of the art 3,250m(2) factory in Kunshan, Jiangsu Province, Peoples Republic of China.

Hayward Tyler has been delivering high-end equipment into China for more than 40 years and the new factory compliments the Company's full-scale service facility, which it has owned and operated in Kunshan for the past 15 years. This service facility provides local support to an installed base of more than 500 Boiler Circulating Pumps (BCPs) operating in China. Hayward Tyler has the biggest installed base of BCPs globally of any original equipment manufacturer (OEM), with the largest concentration of these being in China.

The new factory is part of Hayward Tyler's global business strategy, which includes localisation, expanding its service-offerings and developing a China-based supply chain that can benefit the whole Company. The new factory will provide existing Chinese customers with an enhanced local service capability as well as manufacturing a wider range of Hayward Tyler's highly engineered products for the power generation, oil and gas and chemical industries both in China and for the rest of the world.

Mike Turmelle, President of the Engineered Pumps and Motors division, said: "With the support of Avingtrans, Hayward Tyler's vision is to bring world class products and service to the markets we are engaged in. In China we are no longer just a high-quality service organisation. Opening this new plant allows Hayward Tyler the capability to manufacture performance critical pumps here in China and also gives Hayward Tyler the opportunity to expand our service offerings, add to our engineering talent and develop a China-based supply chain that can benefit the whole company."

Steve McQuillan, Avingtrans CEO, added: "Avingtrans has been investing in China for over 10 years. When we acquired Hayward Tyler in 2017, we were pleased to support the proposal to build a new factory in Kunshan and we are delighted that our third major investment in Chinese manufacturing is fully open for business".

Enquiries:

 
 Avingtrans plc 
  Steve McQuillan, CEO 
  Stephen King, CFO        0135 469 2391 
 N+1 Singer 
  Shaun Dobson 
  Lauren Kettle            0207496 3000 
 Newgate Communications 
  (Financial PR) 
  Adam Lloyd 
  Tom Carnegie             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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

NRALFFIVLTIELIA

(END) Dow Jones Newswires

January 16, 2019 02:00 ET (07:00 GMT)