News blog
Avingtrans
- BY: Andrew Hore |
- POSTED: 26/11/2012 |
Engineer Avingtrans has made its second acquisition in the aerospace sector in less than one month.
Avingtrans is paying £2m for Derby-based Aerotech Tubes and it has secured a ten year agreement with a major customer, which is worth £2m a year. In 2011, Aerotech made an underlying operating profit of £460,000 on revenues of £2.36m.
Aerotech manufactures pipe assemblies and manifolds for leading tier-1 customers in the aero-engine industry.
Earlier this month, Avingtrans bought the aerospace components operation of PFW UK for £1.85m.
At 98.5p a share, Avingtrans is valued at £25.6m.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2012_38.pdf
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