REG - Avingtrans PLC - Contract Wins

AvingtransAnnouncement

11/10/2023 07:00

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RNS Number : 6846P  Avingtrans PLC  11 October 2023

11 October 2023

Avingtrans Plc

 

("Avingtrans" or the "Group")

 

Metalcraft Contract Wins

 

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 that Stainless Metalcraft
(Metalcraft), part of the Group's Energy and Medical division, has secured two
national contracts that aim to make safe nuclear waste for long-term storage
of the UK's legacy of nuclear assets. Together, the contracts (one of which is
a new contract and the other an extension to an existing contract) are valued
at £14.5m and the additions boost Metalcraft's forward order book to more
than £75m over the next six years.

 

Metalcraft has been awarded the release of the next production phase of a
contract to produce stainless steel waste containers that will be used to
store intermediate level legacy waste. Additionally, Metalcraft has secured a
contract from a new client to prepare concrete waste containers to support
decommissioning of the now-retired fleet of UK nuclear power plants.

 

Nuclear decommissioning is a demanding but developing market that Metalcraft
has specifically targeted in recent years. It has invested £7.5 million in
new plant and equipment at its production facility to support the contracts,
including modern CNC machine tools and robotic welding machines. Anticipating
future demand, Metalcraft has also invested £3.4m in a new training facility
to manage the supply of skilled personnel to meet anticipated demands of
nuclear decommissioning. It is now ready to increase serial production of
nuclear containers that meet rigorous specification criteria and proves the
company's ability to deliver highly specialised contracts.

 

Austen Adams, divisional managing director of Avingtrans PLC, commented:

 

"We are proud to be a part of this national mission of utmost importance.
Winning these additional contracts is a testament to our production capability
in Cambridgeshire and the incredible potential of our team members, who are
highly skilled and ready to tackle these new challenges in the future
decommissioning market.

 

"This challenge highlights the finest aspects of UK manufacturing while the
benefit of a large forward order book enables us to invest in the people
essential to the success of the challenge. We are looking forward to
fulfilling these contracts and more to follow.''

 

 

ENDS

 

 

Enquiries:

 

 Avingtrans plc                                          01354 692 391

 Roger McDowell, Chairman

 Steve McQuillan, Chief Executive Officer

 Stephen King, Chief Financial Officer

 Singer Capital Markets (Nominated Adviser and Broker)   020 7496 3000

 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 & Nottingham, UK, 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

 Provider of custom fabrications for the nuclear industry, specialising in: OEM
 parts obsolescence; custom fabrications; engineering design solutions; product
 refurbishment; on-site technical support.

 Stainless Metalcraft Ltd - Chatteris, UK

 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 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.

 Composite Products Ltd - Buckingham, UK

 Centre for composite technology, parts and assemblies, serving customers in
 industrial markets.

 Adaptix Ltd - Oxford, UK

 Adaptix has developed novel 3D X-ray for Orthopaedic and Veterinary
 applications amongst others. Commercialisation of this system (and others) is
 on-going.

 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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