Hampson Ind. Share Discussion Threads

[tempramental] 03/7/2012 15:17

management determined to paint the grimmest picture possible and make everything seem dire - despite the fact they are an apparantly bouyant (booming) sector, the tooling division is still profitable and they have already said months ago they had indicative offers for the Indian division. Wonder what they are up to - shall all holders slit their wrists now??lol

[diku] 03/7/2012 15:11

What a time to release a trading update!....

[tullynessle] 03/7/2012 15:08

RNS Number : 8239G

Hampson Industries PLC

03 July 2012

3 July 2012

Hampson Industries PLC

("Hampson" or "the Company", and together with its subsidiaries, "the Group")

Trading update

In the announcement dated 6 June 2012, it was stated that, although the assessment of strategic options was ongoing, the Board considered that it was becoming clear that there was a material risk that there will be little or no remaining value for existing shareholders. Since then, the Company has been preparing a revised business plan as part of that strategic review. Shareholders should be aware that this plan will reflect worsening trading conditions for the Group's tooling activities, which therefore increases that material risk.

While the Group's tooling businesses remain profitable, the relatively low level of new programme awards, on which this division mainly depends, in conjunction with the perceived uncertainty associated with the Group, means that trading in that division is challenging.

The division continues to make deliveries against the Group's largest tooling order, on which, as previously announced, issues were identified during the testing and customer approval process. Hampson is constructively engaged with the customer at senior management level to resolve the issues.

Furthermore, the proposed sale of the BHW unit is no longer being pursued, owing to significant production rescheduling by a key customer and the decision by another customer to retain in house activities which it had planned to outsource to BHW. Operational changes are being identified at BHW to reduce the impact of BHW's performance on the Group.

The Group's overall results for the current year are expected to be materially impacted by these trading issues.

As noted in the announcement dated 27 June 2012, the Board of Hampson continues to review and assess the strategic options available to the Group and the formal sale process continues. The Group's results for the year ended 31 March 2012 are expected to be announced on 31 July 2012.

The Group is in discussions with its lenders who continue to be supportive whilst the Group explores its strategic options.

Further announcements will be made as appropriate.

[aleoap] 03/7/2012 15:07

58.6% spread after that. Come on, let me have some in the 0.1's mm's!

[joeblogg2] 03/7/2012 11:19

minsk. job creation wherever is important but hopefully over here in UK even more so if the banks/Govt. give backing considering it is a World leader in several areas!!

[tullynessle] 03/7/2012 11:09

I suspect that there will be huge opportunities for Suppliers based in North America.

Although the timeline indicates that the Plant will open in 2015 there will be construction, planning & plant fit-out, pre-production activity in the intervening period.

Airbus Tier 1 suppliers such as engine manufacturers etc may have to expand their USA operations accordingly.

I suppose that such activity may provide opportunities for established niche suppliers further down the supply chain.

All IMO / DYOR





2 July 2012 Last updated at 17:35

Airbus confirms its first US factory to build A320 jet

European plane manufacturer Airbus has confirmed plans for a $600m (£482m) factory in Alabama, marking its first assembly plant in the US.

The plan will put it into direct competition with rival Boeing, which dominates commercial plane manufacturing in the US.

The factory, which will create 1,000 jobs, will manufacture the A320 series of planes.

The plant, set to open in 2015, aims to build up to 50 planes a year by 2018.

Article continues....

[minsky] 03/7/2012 11:07

most of Hamp's jobs are in the US though, with a few more in India.

[joeblogg2] 03/7/2012 11:00

Hamp needs to get backing and flourish on it's own as UK industry needs jobs!!

[minsky] 03/7/2012 10:52

WSJ: Boeing Raises Jetliner Market Forecast To $4.5 Trillion Over Next 20 Years



makes you feel a bit sick that HAMP is languishing at the market cap of a suburban 4 bedroom house in London

[tullynessle] 02/7/2012 09:58

Minsky - Re Post 2458

Had a look but couldn't find any update specific to the problem.

The articles at Link 3 (Feb 5, 2012) and Link 2 (Mar 14, 2012) provide good information about the problem at the South Carolina plant.

The article at Link 1 (May 23, 2012)describes the "Inaugural Flight of First 787 Built in South Carolina".

All a bit tenuous - perhaps we will receive information about the status of the "Issue", its rectification and cost from Hampson in the near future.



=======================================================

Link 1:



Boeing Conducts Inaugural Flight of First 787 Built in South Carolina
NORTH CHARLESTON, S.C., May 23, 2012 -

Boeing (NYSE: BA) today marked another 787 milestone as the first Dreamliner built in South Carolina completed its first flight. Piloted by Tim Berg and Randy Neville, the airplane successfully conducted a five-hour test flight.


=================================
Link 2




Boeing re-affirms 787 delivery guidance

14 Mar 2012

Maintaining its goal of 35 to 42 787 deliveries in 2012, Boeing's Commercial Airplanes CEO Jim Albaugh says the company is considering ramping up production at its North Charleston, South Carolina final assembly line to further bolster the advance to 10 787s per month at the end of 2013.

Continued...


=====================================================
Link 3



Delamination prompts Boeing to inspect 787 fleet
5 Feb 2012

Boeing again faces a manufacturing quality issue, requiring inspections and repairs of its 787 fleet.

Structural stiffeners were found to be improperly joined to the composite skin in the aft sections of the aircraft, causing parts of the aircraft's carbon fibre structure to delaminate, confirms the airframer.

Continued...

[tullynessle] 02/7/2012 09:30

Flying at Farnborough

Earlier today, we officially announced that a 787 Dreamliner-decked out in Qatar Airways livery-will travel to the Farnborough Airshow. It won't just be on static display. This airplane will take part in flying demonstrations on the Monday, Tuesday and Wednesday of the show.

[tullynessle] 02/7/2012 08:27

Farnborough International Airshow will take place between 9-15 July 2012.

Hopefully the Airshow will provide a positive backdrop for Hampson's ongoing negotiations.


Extract:

This year's show will have some 1,400 exhibitors from 40 countries, and attract 250,000 trade and public visitors. Once again, organiser Farnborough International (FIL) - part of industry body ADS - has sold out chalet, static display and hall space. A total of $47 billion of orders were officially placed at the 2010 show. This year's total could surpass that.




IN FOCUS: Farnborough air show promises to be another success, despite its detractors

26 Jun 2012

Article follows...

[minsky] 02/7/2012 00:27

Has there been an update from anyone on the B787 aft fuselage delamination problem since February 2012?

[badhshah] 28/6/2012 10:06

We will know about everything by the end of next months in the annual results. Not long to go now.

[minsky] 28/6/2012 09:35

if there is a good chance of Lloyds going easy on Hamp, and
if they can turn around to profit and
if they can start paying off the debt,
given the array of high profile projects they are involved with,
a market cap of £830,000 massively undervalues the company.
Its all down to the 'ifs'.

[badhshah] 28/6/2012 09:03

Normally Lloyds is a very supportive bank to viable businesses. I think Hampson is profitable at operating level. If that is the case then there should be no difficulty in getting banking support considering that it is an industry which is in growth and resilliant area even during reccession time.
Let's hope that Hamp will come out of current troubles successfully.

[minsky] 28/6/2012 08:35

at least they didnt put it into administration.

In the previous RNS, all they needed to do was announce the meeting as a formality, as it has been such a non-event. They maybe didn't need to make the 'little or no value' statement as it is only relevant to a sale (i.e. it seems no-one wants to offer more than paying off the debt, if that, for the whole group).

In an earlier RNS they were actually positive about orders. They implied the 'problem' was about delays on tooling work for the Boeing 787 and that revenue would come through in the 2012-2013 financial year.
Is there a chance Hampson could trade their way out of this situation?
I suppose it depends on how tough Lloyds are. If they are lenient, it is a possibility. I've no idea what the probability of this is though.

[tullynessle] 28/6/2012 07:15

Did anyone on the BB attend the meeting yesterday?

[diku] 27/6/2012 23:01

its normal practise to waste money in the PLC casinos....

[vijay130] 27/6/2012 16:51

nothing new other than what we already knew.
If they were to announce what they have published then why did they waste shareholders fund keeping a meeting in London.
I don't know what to think of the management of the company.


Company statement
"RNS Number : 2966G
Hampson Industries PLC
27 June 2012







27 June 2012

Hampson Industries PLC

Result of General Meeting


Hampson Industries PLC (the "Company" or the "Group"), confirms that the general meeting of the Company convened for 11am today for the purpose of considering, in accordance with section 656 of the Companies Act 2006, whether any, and if so what, steps should be taken to deal with the situation that the net assets of the Company are less than half of its called-up share capital has been duly held.

No specific resolutions were due to be voted on at that meeting (and no other matter was voted upon).

The Board continues to review and assess the strategic options available to the Group, and the formal sale process continues.



Enquiries:

M:Communications

Ann-marie Wilkinson / Maria Souvorov [phone]


This information is provided by RNS
The company news service from the London Stock Exchange"

[craigends] 27/6/2012 16:49

they held the meeting and issued RNS -saying ''they held the meeting'' brilliant

[asterix96] 27/6/2012 16:00

The meeting would appear to have been a success as the share price is still holding up!

[minsky] 27/6/2012 12:40

any word on the meeting?

[still waiting] 26/6/2012 10:39

quietly moving up now.