17 March 2022
Avingtrans Plc
("Avingtrans", the "Company", or the "Group")
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 new contract wins for Booth Industries, Energy Steel and Hayward Tyler, Inc.
Booth Industries Secures £6m Contract Win
Booth Industries, the Bolton-based manufacturer of high-integrity performance-assured protection systems, has strengthened its position in the nuclear market with a contract worth approximately £6 million to supply specialist doors for a UK Government agency. The contract comes c.12 months after Booth was awarded a similar contract and continues the company's impressive turnaround since its acquisition by Avingtrans Plc in 2019.
This significant contract win reinforces Booth's position as the leading specialist door supplier in the nuclear and defence industries. Winning this contract not only recognises the Group's ability to design and manufacture reliable, performance-assured solutions for this security-critical industry, but also Booth's growing reputation for delivery and aftercare, which is built on decades of experience in the sector.
Austen Adams, managing director of Avingtrans' Process Solutions and Rotating Equipment division, commented:
"We're delighted that the Booth success story continues to gather momentum, with the business making a strong contribution to the division's growing profile in the nuclear industry. The team has created a strong order pipeline and, with a new manufacturing facility that takes its overall manufacturing capacity to 6,400m2, it also has the capacity it needs to support continuing growth.
"When we acquired the assets of the business in 2019, we could not have foreseen the challenges that would be thrown up by the Covid-19 pandemic over the next two years, but the team has pulled together tremendously during that time, turning around the business and creating strong foundations on which to build. It's exciting times for everyone associated with the business and we're looking forward to delivering another critical infrastructure project for one of our key customers."
Energy Steel and Hayward Tyler, Inc. Secure Contracts to Support ITER Fusion Project
Energy Steel and Hayward Tyler, Inc. have been awarded multi-million dollar contracts to support the ITER project in France. Energy Steel's contract will supply 62 solenoid valve and cubicle packages and Hayward Tyler's will supply variable drive booster pumps. These contracts follow previous awards that ITER has made to the Engineered Pumps and Motors Division of Avingtrans.
The ITER project is a joint international research and development venture with the programmatic goal of demonstrating the scientific and technical feasibility of fusion power. The demonstration facility is under construction in St.-Paul-lez-Durance, France, and will be the largest fusion experimental reactor in the world.
Energy Steel's solenoid valve and cubicle packages will be an integral part of the primary cooling water system (TCWS) and will be used to control heat removal from ITER's magnetic fusion reactor. The solenoid valve and cubicle package will be in accordance with various international and project-specific standards and delivered to the ITER facility in France.
Hayward Tyler's booster pumps will be an integral part of the drying system for the Tokamak Cooling Water System (TCWS) and will be designed, built, and tested at Hayward Tyler, Inc. in Colchester, Vermont.
Mike Turmelle, Managing Director of the Engineered Pumps and Motors Division of Avingtrans, said:
"We are elated that two of our companies can supply products that will contribute to this ambitious project. We're committed and proud to contribute to the advanced nuclear industry."
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
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 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. |
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
