Blanketstacker
14 May 2015
Re: Interesting/Contract win Thank you Lion. Top job. You may be interested to know that the senior management consortium at Sellafield is due to change by the end of this year. That could suggest various tenders and contracts will come up there and beyond.
Lion Rock
13 May 2015
Re: Interesting/Contract win Had an email with the CEO today who states they were pleased to see some movement in gas/oil industry contract awards hopes these are starting to move again. Re the Nuclear Industry Contract represents hard work by the Divisional management Team and they see lots of future opportunities in the Nuclear DeCommisioning industry!![link]
tejo
11 May 2015
Interesting/contract win Thanks Lion Rock and the article was indeed interesting. I do not know how you find these gems. Excellent contract news. We just need to see some substantial profits coming through for the sp to go back toward previous levels.
Lion Rock
11 May 2015
Another good contract win....... Metalcraft are beginning to see just rewards for their efforts...... [link]
Lion Rock
07 May 2015
Interesting....... Interesting comment from Page 8: [link]
tejo
14 Apr 2015
Maloney contract. I fully agree Lion Rock.
Lion Rock
14 Apr 2015
Maloney Order Contract To have won this order in the current oil/gas business climate is very creditable: [link]
tejo
18 Mar 2015
Re: results Thanks Lion Rock but, although well presented, I do not think it adds to the Cambridge News article that you sent..
Lion Rock
17 Mar 2015
Re: : Results There's more: [link]
tejo
12 Mar 2015
Re: results I do not know how you find these nuggets Lion Rock, but thank you - very encouraging. The Company is nothing if not interesting.
Lion Rock
11 Mar 2015
Re: Results Hi Tejo - no apology needed for the delayed reply and I hope the Arthritis settles down very soon if not already. I hope my resume od the history behind Avingtrans has given some insight into the reason "it is like it is". One has to say it is a result of an accident at birth if that makes sense, in the meantime came across this:[link]
tejo
10 Mar 2015
Re: results Thanks LionRock -sorry not to have responded before but another Arthritis flare up made it difficult to type. Your historical review helps puts current diversification into perspective and it must be far from easy to develop hi tech products against some formidable competition also supplying the likes of Rolls Royce. I truly hope that they succeed in the difficult task of maintaining the required level of research and development whilst at the same time creating sustainable and increasing amounts of profits for the shareholders. Thank again for your info. and look forward to the next set of results. Apart from the McDowells, we have Nigel Wray as a significant shareholder which is interesting, especially since he has been there for some time, I think.
Lion Rock
03 Mar 2015
Re: Results Hi Tejo – your statement makes some interesting observations I hope that I can give some answers to your enigma.The answer basically lies in the history, when Avingtrans was a cash shell having previously been a clothing label called Frank Usher Holdings, that underwent a management buyout. The sole remaining Director was Jeremy Hamer (still in that role) who was then tasked with finding a new business and initially the Co acquired the Jena Machine tools business. This was followed by a group of businesses that were being divested by their original owners Ferrarris plc. The businesses was principally a metal bashing business that did not really have any significant commercial advantages over competitors and results were not especially spectacular. See: [link] 75% interest in the Sigma business was started from scratch when the former Dunlop Aerospace Director - Mark Johnson - set up with Avingtrans backing the Chengdu operation.The retirement of the then Chairman in 2008 saw him succeeded by Roger McDowell whose previous business had been in the manufacture of pipes and tubes until bought out by a French Co. This was followed by the appointment of the CEO Steve McQuillan and since then the drive has been to try and upskill the business especially in composites because each new aircraft has an increasing composite content. Conversley I believe Metalcrafts acquisition of Exterran was to vertically integrate the business with the aim of growing the division.In conclusion, and hoping I have perhaps created some enlightenment one could say the current management are trying to create cutting edge precision components in the aerospace, medical and energy fields by elevating them to their next level, from what was a hotch potch of quite ordinary engineering companies. These companies had run of the mill products with low margin capability but with a foundation for development in new materials.Hope this helps!
tejo
27 Feb 2015
Re: Results Thank you for your messages on Wednesday Lion Rock. Your thoughtful analysis inspired me to have a more thorough read of the release and the presentation on the Company's website. It really is an enigma and rather a frustrating one at that. As always, the most important factor is the quality and experience of the management team and their commitment to the business. Here, AVG cannot be faulted and the only surprise is that the company has been able to attract and retain the calibre of the people they have for what is, at the end of the day, in financial terms, a very small business.Moving on to what the company actually does, it is somewhat confusing as to which activities are core and essential to profits and which are not. There may be a problem here, since the activities are many and varied and cover a wide geographical spread.. I start to feel the are talented and motivated but maybe are given too free a rein to pursue the latest good idea. They all seem to be having a good time, enjoying the engineering challenges and receiving much acknowledgement of their work BUT alas, not producing a steady year on year growth in sustainable profits. There is a huge amount of work going on but the net amount of absolute cash profit would not induce even a third tier banker to get out of bed. Not that bankers should be used as a yardstick for anything but it makes the point.Nigel Wray, the Chairman and his wife virtually control the company and have every incentive for it to succeed although the Chairman is not averse to playing the stock market, I see.Where does all this leave me. Not very much the more enlightened I am afraid. I recall, a great many years ago, Rolls Royce nearly going broke as a consequence of having superb engineering but no profits and I hope that AVG does not go into any new ventures or distractions until they have established a sound and profitable business from their current undertakings.Thanks again Lion Rock for your continuing insight into the company.
Lion Rock
27 Feb 2015
Re: Results Interview with CEO & CFO on Interim Results:[link]
