28 February 2012
28 February 2012
Avingtrans has formed Sigma Composites Ltd to operate businesses previously part of the Composites Engineering Group, based in Buckingham, UK (Delta Composites Ltd., Alpha Composites Ltd. and Orion Machining).
According to Avingtrans, the acquisition of this capability strengthens Avingtrans Aerospace Division that already supplies to a global blue-chip customer base. The composites business has a strong foothold in F1/Motorsport and its AS9100-approved facilities also serve Aerospace and other hi-technology markets such as satellite communications and prestige automotive.
Northampton-based MarshmanPrice managed the transaction on behalf of the directors of Composite Engineering Group. Alan Price of MarshmanPrice commented “following difficult circumstances, we believe we have delivered the best solution for local industry and other stakeholders, where over 40 jobs in a high technology industry have been secured and we hope Avingtrans will take the new business forward to success.”
Mark Johnson, Divisional Managing Director at Avingtrans, commented “Acquiring a capability in composites is something we have been seeking for some time and we are delighted that we now have created the new entity Sigma Composites. Not only have we immediately broadened Sigma’s offering to the markets we serve, but we have created a vehicle to allow evolution of products from metals to the newest lightweight materials available to aerospace and Formula 1.”
The business will operate from the existing Buckingham facilities with its sister company Sigma Precision Components remaining at its facilities in Hinckley, UK and Chengdu in China. Mark Johnson concluded “Combined with existing high precision engineering in metallic products, this new capability creates a compelling package for existing and prospective customers. We’re excited by this significant step forward for the whole team.”
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