Acquisition
September 01 2003 - 3:01AM
UK Regulatory
RNS Number:2052P
Avingtrans PLC
01 September 2003
Avingtrans Plc
Acquisition
1 September 2003
Avingtrans Plc ("Avingtrans" or "the Company"), the Aim listed actuator products
and services group, is pleased to announce the acquisition of the assets,
intellectual property and ongoing business interests of Boneham & Turner
Spindles ("BTS"), a division of Boneham & Turner Limited of Mansfield,
Nottinghamshire. The acquisition will be financed from the Company's existing
working capital.
BTS is a leading supplier of precision spindles for industrial applications in
the machinery and automation markets of the UK, USA and Asia.
Avingtrans will amalgamate the acquired assets and business interests of BTS
with its subsidiary, Jena Rotary Technology Limited. The enlarged business will
be housed in a new special purpose facility in Nottinghamshire. Jena Rotary
Technology Limited is a manufacturer of precision actuators and precision
spindles and the UK agent for GMN, a leading German manufacturer of high
precision spindles.
Ken Baker, Chairman of Avingtrans said "The acquisition of BTS represents a
significant strengthening of Avingtrans' world wide spindle business and will
enable Avingtrans to provide a more comprehensive supply and maintenance service
to its customers".
Enquiries
Avingtrans plc
Steve Lawrence, Chief Executive
01159 499020
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQDKLFLXVBZBBD