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Avingtrans plc (AIM: AVG) – good news amongst the doom and gloom of the energy market

06/05/2015 · Avingtrans PLC (AVG) 

The current environment is a challenging one for companies operating in the oil and gas marketplace, but in April Avingtrans, the designer manufacturer and supplier ofcomponents, and associated services to the aerospace, energy and medical sectors, announced welcome news from the embattled energy sector.

Maloney Metalcraft, part of Avingtrans’ Energy and Medical division has secured a $3 million contract to design and manufacture a Glycol Regeneration Package for the Timimoun Field Development Project in south-western Algeria. The contract with Samsung Engineering Co. Ltd, is due for completion in March 2016.

The Timimoun Field Development Project is a non-conventional gas project, it covers 2,500km2 and will ultimately include 40 wells, a gas gathering system, central gas processing facilities and a…

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