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Avingtrans buoyed by around £3mln Astute class submarine programme order for Hayward Tyler unit

Hayward Tyler – which Avingtrans acquired almost exactly one year ago - has a history of supporting the UK nuclear submarine fleet since the Valiant class boats of the 1960s
Submarine
Steve McQuillan, CEO of Avingtrans commented: "This win highlights the engineering excellence within the group"

Avingtrans PLC (LON:AVG) saw its shares push higher on Wednesday buoyed by news that its Hayward Tyler unit recently secured orders worth just under £3mln, for the supply of high integrity pumps for the UK’s Astute class submarine programme.

The AIM-listed firm - which designs, manufactures and supplies critical components, modules and associated services to the energy and medical sectors - said the pumps, and through life support, will be provided by its team based in the Hayward Tyler facility in Luton.

READ: Avingtrans reports revenue growth, driven by the acquisition of HTG

Hayward Tyler - which Avingtrans acquired almost exactly one year ago - has a history of supporting the UK nuclear submarine fleet having supplied equipment since the Valiant class boats of the 1960s. 

Mike Turmelle, managing director of the Hayward Tyler division, said: "It's a great win for our Luton team and a clear indication of our commitment to continue supporting the programme for many more decades to come."

Steve McQuillan, CEO of Avingtrans commented: "This win highlights the engineering excellence within the group that we continue to develop and that underpins our forward strategy."

In early morning trading, Avingtrans shares were 2.8% higher at 218.5p.

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Newswire
February 15 2016

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