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On 11 October 2023, Avingtrans Plc announced its Stainless Metalcraft division secured two national contracts, valued at £14.5 million, for nuclear waste containers and concrete waste container preparation. These contracts increased Metalcraft's forward order book to over £75 million over the next six years. Additionally, Metalcraft invested £7.5 million in new plant and equipment and £3.4 million in a new training facility.
| Date | 11 Oct 2023 |
| Time | 07:00:05 |
| Category | Corporate updates |
| ID | 6846P |
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:
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Avingtrans plc Roger McDowell, Chairman Steve McQuillan, Chief Executive Officer Stephen King, Chief Financial Officer
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01354 692 391 |
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Singer Capital Markets (Nominated Adviser and Broker) Shaun Dobson Alex Bond Oliver Platts
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020 7496 3000 |
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IFC Advisory (Financial PR) Graham Herring Tim Metcalfe Zach Cohen |
020 3934 6630 |
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
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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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