TIDMAVG
RNS Number : 6558A
Avingtrans PLC
23 January 2020
23 January 2020
Avingtrans Plc
("Avingtrans" or "The Group")
Trading update and notice of interim results
Avingtrans PLC (AIM: AVG), the international engineering group,
which designs, manufactures and supplies original equipment,
systems and associated aftermarket services to the energy and
medical sectors, is pleased to announce it has continued to perform
well in the first half of the financial year and is trading in line
with market expectations.
The order and prospect pipeline remains robust. Recent notable
orders secured include:
-- A GBP2m order for Hayward Tyler China, for pumps to be
installed at a major new concentrated solar power plant in Dubai -
an important foothold in this growing renewable energy sector and
the biggest order to date for HT in China.
-- A record GBP1m order for Fluid Handling, Scotland, from
Sellafield Limited, for remote maintenance valves, to be used on
nuclear waste reprocessing equipment.
-- A GBP2m order for Peter Brotherhood, for additional steam
turbines in the defence market, as part of a long-standing
framework agreement.
The recent acquisitions of Booth and Energy Steel (both
completed in June 2019) are responding to their Avingtrans recovery
programmes well and are integrating as anticipated, with strong
order books already secured and healthy prospect pipelines. With
the support and guidance of the Group, these two businesses have
been experiencing steadily improving performance trends, as they
recuperate from previously constrained positions.
The Group will publish its results for the six months ended 30
November 2019 on Wednesday 26 February 2020.
The management team will be hosting a presentation for analysts
on the day of results at 9:30am at the offices of Newgate
Communications, Sky Light City Tower, 50 Basinghall Street, London
EC2V 5DE.
Enquiries:
Avingtrans plc 01354 692391
Roger McDowell, Chairman
Steve McQuillan, Chief Executive Officer
Stephen King, Chief Financial Officer
N+1 Singer (Nominated Adviser) 02074 963000
Shaun Dobson
Lauren Kettle
Newgate (Financial PR) 02076 539850
Adam Lloyd
Tom Carnegie
About Avingtrans:
Avingtrans designs, manufactures and supplies original
equipment, systems and associated aftermarket services to the
energy, medical and industrial markets worldwide.
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.
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 - Lapeer, Michigan, USA
Provider of custom fabrications for the nuclear industry,
specialising in: OEM parts obsolescence; custom component
fabrication; engineering design solutions; product refurbishment;
on-site technical support.
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 specialist doors
and walls which can be tailored to be: blast and 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.
Peter Brotherhood - Peterborough, UK
Specialises in the design, manufacture and servicing of
performance-critical steam turbines, turbo gen-sets, compressors,
gear boxes and combined heat and power systems.
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 including MRI
and provides service and support for Nuclear Magnetic Resonance
instruments.
Tecmag Inc - Houston, USA
Designs, manufactures, tests and installs instrumentation,
including full consoles, system upgrades, and solid-state probes,
mainly for Magnetic Resonance Imaging (MRI) and Nuclear Magnetic
Resonance (NMR) systems.
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.
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END
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