RCS - Avingtrans PLC - Adaptix appoints Willem Baralt as new Chairman

AvingtransAnnouncement

15/02/2023 07:16

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RNS Number : 8997P  Avingtrans PLC  15 February 2023

15 February 2023

Avingtrans Plc

 

("Avingtrans" or the "Group")

 

Adaptix appoints Willem Baralt as new Chairman

 

Avingtrans PLC (AIM: AVG) announces that further to the statement made on 14
December 2022, Adaptix, the Oxford based emerging MedTech Company, has
appointed Willem Baralt as its new Chairman. Willem, previously of Quanta
Dialysis Technologies, will succeed Steve McQuillan (CEO of Avingtrans), who
was appointed to the Board of Adaptix in December 2022 in an interim capacity.
Steve will continue as a Non-Executive Director of Adaptix.

 

In 2021, Avingtrans invested £4m in Adaptix, for an 11.9% stake in the
business and in December 2022 announced a further investment of £2m by means
of a Convertible Loan Note.

 

 

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

 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, manufactures 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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