Avingtrans secures three new contracts

Critical components manufacturer Avingtrans has secured new contract wins in its Booth Industries, Energy Steel and Hayward Tyler trading arms.

Avingtrans said on Thursday that Bolton-based manufacturer Booth Industries had "strengthened its position in the nuclear market" with a contract worth approximately £6.0m that will see it supply specialist doors for a UK Government agency.

The AIM-listed firm noted that the "significant contract win" comes roughly 12 months after Booth was awarded a similar contract and will continue the company's "impressive turnaround" since its addition to the group in 2019.

Over at Energy Steel and Hayward Tyler, the subsidiaries were awarded multi-million dollar contracts to support joint international research and development venture the ITER project in St-Paul-lez-Durance, France, with Energy Steel's contract seeing it supply 62 solenoid valve and cubicle packages, while Hayward Tyler will supply variable drive booster pumps. These contracts follow previous awards that ITER has made to the Engineered Pumps and Motors Division of Avingtrans.

As of 1015 GMT, Avingtrans shares were up 5.37% at 432.0p.