21/08/2006
Aerospace procurement and inventory manager Aero Inventory has won a contract to supply of expendable and recoverable spares to Qantas.
Australia's flagship airline has appointed AIM-quoted Aero as its 'preferred supplier' of these aircraft parts for what Aero expects will be an initial 10 years, with two further five-year extension options. The two companies say they hope to finalise and implement contract terms within 90 days.
Headed by chief executive Rupert Lewin, Aero, which made £2.7 million pre-tax in the six months to December, raised £85 million in a £3 rights issue early this year and £7.4 million in a placing at 433p.
The shares are 53.5p up today at 372p, valuing the company at £174 million.
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