Avingtrans PLC (AIM:AVG) announced its subsidiary Stainless Metalcraft has penned two contracts under a programme aiming to process nuclear waste for long-term storage in the UK.
Constituting a new contract, alongside an extension of an existing deal, the company will receive £14.5 million to produce steel and concrete storage containers, Avingtrans said on Wednesday.
This is part of a wider effort to process waste from nuclear energy production for long-term storage, as several plants in the UK are decommissioned.
"We are proud to be a part of this national mission of utmost importance,” director Austen Adams commented.
The contract wins take Stainless Metalcraft’s forward order book value to £75 million over the next six years.
Metalcraft has invested £7.5 million in new equipment at its Cambridgeshire plant in anticipation of the contracts, alongside £3.5 million into a new training facility.
“Nuclear decommissioning is a demanding but developing market that Metalcraft has specifically targeted in recent years,” Avingtrans said.
“It is now ready to increase serial production of nuclear containers that meet rigorous specification criteria and prove the company's ability to deliver highly specialised contracts.”