Acquisition of Aerotech Tubes Ltd23 Nov 2012
On 23rd November 2012 Avingtrans plc acquired Aerotech Tubes Ltd to expand Avingtrans’ Aerospace Division. Furthermore, the Company is pleased to have secured a new long term agreement, valued currently at GBP2 million per annum, over the next ten years, with an existing Aerotech customer.
Based in Derby, Aerotech manufactures pipe assemblies and manifolds for leading tier-1 customers in the aero-engine industry. Mark Johnson, Managing Director of Avingtrans’ Aerospace division commented:
“Aerotech is another excellent addition that will add further capability to our pipes and manifold business. The contracts we have agreed are on major aerospace programmes and provide visibility on revenues whilst also helping to cement our customer relationships”.