5 June 2023
Avingtrans Plc
("Avingtrans" or the "Group")
Board Changes
Avingtrans plc (AIM: AVG), the engineering technology group, notifies all interested parties that its Chairman, Roger McDowell, is taking a temporary sabbatical for family health reasons with immediate effect. It is expected that Roger will resume his duties as Chairman in September 2023. During the intervening period, Roger will remain a Director of the Company.
Les Thomas, Senior Independent Director, will assume the position of interim Chairman in Roger's absence with immediate effect.
Enquiries:
| Avingtrans plc Les Thomas, Interim Chairman Steve McQuillan, Chief Executive Officer Stephen King, Chief Financial Officer
| 01354 692391 |
| Singer Capital Markets (Nominated Adviser and Broker) Shaun Dobson Alex Bond Oliver Platts
| 02074 963000 |
| 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
| 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
Energy Steel, part of the Engineered Pumps and Motors Division of Avingtrans plc, has been serving the nuclear power industry since 1982 with capabilities in equipment fabrication, material supply, precision machining, engineering, and repair services. Through strategic OEM partnerships, it also provides solutions for obsolete nuclear components and support for the most complex projects.
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, manufactures 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. |
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