StockMarketWire.com - Avingtrans has formed Sigma Composites following an agreement to acquire Delta Composites, Alpha Composites and Orion Machining, collectively known as Composites Engineeering Group.
Avingtrans says the acquisition of these assets further strengthens the offering of its aerospace division, as the acquired business has a strong foothold in F1/Motorsport and, with AS9100-approved facilities, also serves aerospace, other hi-technology markets such as satellite communications and 'prestige automotive'.
Avingtrans is already supplying to a global blue-chip customer-base.
Sigma Composites will operate from Composites Engineeering Group's existing Buckingham facilities, while sister company Sigma Precision Components remains at its facilities in Hinckley, UK and Chengdu in China.
Sigma's business model provides its global customers with complete product life-cycle support, optimising method and option of location of manufacture to best meet market needs.
This latest development widens Sigma's offering and widens market access substantially.
At 8:14am: (LON:AVG) Avingtrans share price was +1p at 62p
Story provided by StockMarketWire.com
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