Hampson Ind. Share Discussion Threads

[minsky] 28/9/2012 16:37

Oh well - 28th September comes and goes and no news.
PIs treated like mushrooms as per usual.

[tullynessle] 26/9/2012 20:59

"Hampson" logo displayed prominently on the side of the vehicle - rocket test scheduled for first week in October.





BLOODHOUND hybrid rocket firing

News release 11th Sept 2012

The BLOODHOUND Project will test fire its hybrid rocket in the first week of October at the Aerohub, Newquay Cornwall Airport.

The firing will take place on Wednesday October 3rd

BLOODHOUND's engineers will be testing the complete rocket system for the first time, comprising of the Cosworth CA2010 F1 engine, High Test Peroxide tank, custom designed gear box, software and unique Falcon Hybrid Rocket.

The event represents the most significant milestone yet in the development of the BLOODHOUND Supersonic Car, the team will also be launching its new website and "The science behind the speed" a coffee table book, telling the design story of the world's first 1,000 mph car.

[tullynessle] 24/9/2012 18:37

More orders for the 787-9 Dreamliner...........



SEATTLE, Sept. 24, 2012 /PRNewswire/ -- Boeing [NYSE: BA] and All Nippon Airlines (ANA) announced that the ANA Group has ordered an additional 11 787-9 Dreamliners. The order, valued at $2.7 billion at current list prices, bring the total number of 787s ANA has ordered to 66 airplanes consisting of 36 787-8s and 30 787-9s.
"The improved fuel efficiency and greater seating capacity of the 787-9 will provide ANA with added flexibility," said Hideki Kunugi, Head of Aircraft Purchasing & Sales at ANA. "The new Dreamliners will also help support the profitable expansion of ANA's international and domestic routes in the future."
ANA, the launch customer for the 787 Dreamliner, is Boeing's largest commercial airline customer for the 787 Dreamliner.

Continued....

[tullynessle] 24/9/2012 17:51

IMO Hampson should provide an update as to the "Issue" - specifically rectification progress, revenue received and any resultant reduction in working capital requirements.




- United is the first North American carrier to fly the 787
- Dreamliner opens new routes for United

EVERETT, Wash., Sept. 24, 2012 /PRNewswire/ -- Boeing (NYSE: BA) and United Airlines announced today the delivery of the airline's first 787 Dreamliner. United is the first airline in North America to take delivery of the 787.
Jeff Smisek, president and CEO of United, said, "As the North American launch customer, we are delighted to be getting our first 787 Dreamliner. As we continue to build the world's leading airline, we are excited for our customers and co-workers to experience this game-changing aircraft."

Continued......

[minsky] 21/9/2012 09:22

One week to go until some news?
From the 31 July RNS
"the Group has entered into covenant waivers in respect of its finance facilities (which are anticipated to provide adequate working capital headroom for the Group's operations) until 28 September 2012, to provide time to implement either the disposals or a financial restructuring of the Group's operations."

[tullynessle] 14/9/2012 10:29

The RNS entitled "Update and Notice of General Meeting" was issued on June 6, 2012.

The RNS contained the statement about "future liabilities, such as those relating to the fulfilment of the Company's remaining obligations under the defined benefit pension scheme in the UK)" as provided at the Extract below.

On June 6, 2012 the FTSE opened at 5261.

Today, September 14, 2012 at 1000 hours the FTSE stood at 5898.

Since the RNS the FTSE has risen some 12.1%.

Hopefully the impact of such increase is being acknowledged by Hampson Management and the Board of Directors.



Extract:

- the assessment of the Group's trading and operating liabilities (including the Company's contingent or future liabilities, such as those relating to the fulfilment of the Company's remaining obligations under the defined benefit pension scheme in the UK);




Date : 06/06/2012 @ 12:00
Source : UK Regulatory (RNS & others)
Stock : Hampson Ind. (HAMP)

Update and Notice of General Meeting

RNS follows.....

[joeblogg2] 12/9/2012 16:45

Tully lets hope we get some value back as the crooks running companies only look after themselves

[tullynessle] 12/9/2012 16:42

BAE RNS released at 16:35 today regarding a possible combination of BAE and EADS
businesses.



BAE SYSTEMS PLC Stmnt re Share Price Movement
Date : 12/09/2012 @ 16:32
Source : UK Regulatory (RNS & others)
Stock : Bae Sys. (BA.)
Quote : 363.6 34.9 (10.62%) @ 16:35

RESPONSE TO SHARE PRICE MOVEMENT

Further to the recent movement in BAE Systems' share price, BAE Systems plc (BAE Systems) and EADS N.V. (EADS) confirm that they are in discussions regarding a possible combination of their businesses. This potential combination would be implemented through the creation of a dual listed company structure, under which both companies would operate as one group by means of equalisation and other agreements but would be separately listed on their existing exchanges.

The discussions between the parties envisage that BAE Systems shareholders would own 40% and EADS shareholders 60% respectively of the enlarged group. It is contemplated that there would be a unified board and management structure with identical boards and executive committees at each of BAE Systems and EADS.

RNS continues...

[tullynessle] 12/9/2012 16:26

If BAE Systems and EADS combine to maintain BAE sales into the US Market then an acquisition of Hampson by the Joint Venture would enhance that strategy?

Extract:

".....are exploring a transaction that would allow London-based BAE to maintain its independence to sell into the U.S. defense market,......"




EADS Said to Explore BAE Combination in Aerospace Revamp
By Jacqueline Simmons and Anne-Sylvaine Chassany - Sep 12, 2012 4:01 PM GMT

European Aeronautic, Defence & Space Co., the parent of Airbus SAS, is in negotiations with BAE Systems Plc (BA/) about a combination of the two companies, people familiar with the discussions said.

The talks are at an advanced stage and the two companies are exploring a transaction that would allow London-based BAE to maintain its independence to sell into the U.S. defense market, said one of the people, who asked not to be identified because the talks are private. A final deal hasn't been reached, and an accord may still fall through, the people said

A combination of BAE and EADS would hark back to plans for a single European aerospace business that were abandoned more than a decade ago when the formation of the two companies split the industry along civil and defense lines. A merger would create a counterweight to U.S. aerospace companies including Boeing Co. (BA), Airbus's main competitor in civil aviation.

EADS Chief Executive Officer Tom Enders said today at the Berlin air show that he had no comment. BAE spokesmen declined to comment.

Continued.....

[tullynessle] 08/9/2012 14:20

Good news for Gulfstream and perhaps for Hampson....

Extract:

"Gulfstream expects to deliver the first fully outfitted G650 business jets to customers before year-end."



Fri, Sep 07, 2012

FAA Certifies Gulfstream G650

Company Says The Aircraft Sets A New Standard For Business Aviation
Following on the heels of the certification of the G280, Gulfstream's ultra-large-cabin, ultra-long-range Gulfstream G650 business-jet aircraft received a type certificate Friday from the FAA. The certification verifies the airworthiness of the aircraft's design.

Gulfstream expects to deliver the first fully outfitted G650 business jets to customers before year-end. The company has received more than 200 orders for the aircraft.

Article continues........


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





Extract:

Tools designed and manufactured by Hampson have, and continue to play, a critical role in the design, pre-production, and production phases of many programs in aerospace including Boeing 787, 777, 747-8, 737; Airbus A380, A350, A320; Bombardier CSeries* aircraft; Gulfstream G650; Cessna Citation;
HondaJet; Lockheed Martin F-35; Boeing F-18; and Sikorsky CH53. Hampson now works with virtually every major airframe manufacturer in the world.

[tullynessle] 08/9/2012 09:19

Let's hope that the Government and the Banks are listening......




Help for the "forgotten army" of a thousand West Midlands mid-sized businesses
By Doug Mahoney on Aug 31, 12 02:51 PM in Economics

John Cridland, CBI Director General called mid-sized businesses (MSBs*) "a forgotten army" saying that "now is the time to unlock their potential".

Up until recently, most of the public debate has been about SMEs or multi-nationals - and for good reason. The success of our large companies, like JLR and JCB in international markets is vital to the success of our economy.

While at the other end of the scale, SMEs account for around 53% of UK exports - another cornerstone of our future growth.

But what about this "forgotten army" of middle sized companies?


In the West Midlands we estimate there are around one thousand companies who fit the MSB description.

Article continues....

[tullynessle] 07/9/2012 15:40

Sent the email below to Hampson.............


Dear xxxxxx,

Please review my thoughts concerning the RNS today and described below.

Kindly circulate to Management and the Board of Directors as you consider appropriate.


The RNS today (Sept 9, 2012) and entitled "Hampson Industries PLC Change of Accounting Reference Date" in which Hampson changes its accounting reference date from 31 March to 30 September and delays the next Annual General Meeting to no later than 31 March 2012; makes no sense if the intention is to sell the Group's US operations in the near future and perhaps before 28th September 2012.


In the RNS dated July 31, 2012 and entitled, "Suspension of Trading in Shares", we were advised of the following:

i.) "the Group is entering into a period of exclusivity with a third party in relation to a potential disposal of the Group's US operations."

and

ii) "the Group has entered into covenant waivers in respect of its finance facilities (which are anticipated to provide adequate working capital headroom for the Group's operations) until 28 September 2012".

I cannot accept that:

1.) A third party would consider purchasing Hampson's US operations without performing due diligence on the operations as described accurately and completely in current proforma Accounts for each subsidiary.

2.) Lenders would decline to extend / extend funding or to enter into covenant waivers, without the opportunity to review accurate, complete and up to date proforma Accounts for the Group.

Accordingly, IMO, information sufficient to prepare the Report and Accounts must exist.


Therefore why has Hampson delayed publication of its Accounts?


I suppose there are three possibilities:

AA. Any sale of the US Operations will proceed immediately with some loss to Lenders and ignoring any rights earned by Shareholders

BB. Any sale of the US Operations will be be delayed as "the Issue" is rectified and payment are received along with general recovery within the Aerospace Sector as Projects move to full production. Lenders continue to support Hampson in the expectations that any loss in the value of their loan will be recovered. Any rights earned by Shareholders will be ignored.

CC. As per the first sentence at (b).

However at Option (c) Any rights earned by Shareholders may have some value (eventually) - all subject to the success of trading over the next six
months.

Kind Regards

xxxxxxx
Shareholder (Still)

[tullynessle] 07/9/2012 15:15

The RNS today (Sept 9, 2012) and entitled "Hampson Industries PLC Change of Accounting Reference Date" in which Hampson changes its accounting reference date from 31 March to 30 September and delays the next Annual General Meeting to no later than 31 March 2012; makes no sense if the intention is to sell the Group's US operations in the near future and perhaps before 28th September 2012.


In the RNS dated July 31, 2012 and entitled, "Suspension of Trading in Shares", we were advised of the following:

i.) the Group is entering into a period of exclusivity with a third party in relation to a potential disposal of the Group's US operations.

and

ii) "the Group has entered into covenant waivers in respect of its finance facilities (which are anticipated to provide adequate working capital headroom for the Group's operations) until 28 September 2012".

I cannot accept that:

a.) A third party would consider purchasing Hampson's US operations without performing due diligence on the operations as described accurately and completely in current proforma Accounts for each subsidiary.

b.) Lenders would decline to extend / extend funding or to enter into covenant waivers, without the opportunity to review accurate, complete and up to date proforma Accounts for the Group.

Accordingly, IMO, information sufficient to prepare the Report and Accounts must exist.

Therefore why has Hampson delayed publication of its Accounts?


I suppose there are three possibilities:

a. Any sale of the US Operations will proceed immediately with some loss to Lenders and ignoring any rights earned by Shareholders

b. Any sale of the US Operations will be be delayed as "the Issue" is rectified and payment are received along with general recovery within the Aerospace Sector as Projects move to full production. Lenders continue to support Hampson in the expectations that any loss in the value of their loan will be recovered. Any rights earned by Shareholders will be ignored.

c. As per the first sentence at (b).

However at Option (c) Any rights earned by Shareholders may have some value
(eventually) - all subject to the success of trading over the next six
months.



I have no idea what will happen - does anyone have more suggestions / information?

[troc1958] 07/9/2012 13:03

Accounting reference date now changed from 31/3/12 to 30/9/12. Thus no accounts will be published until March 2013. Their accounts must be in a serious mess and this gives them more time to sort them out before mandatory reporting.

Sadly I cant see shareholders getting anything from Hamp. A real disgrace as no doubt the "profitable" subsidiaries will be sold off to ofset debt. Banks will recoup a lot of their loans and we the shareholders left with nothing.

I truely believed Hamp could turn their operations around in such a bouyant aerospace market. Took the gamble and lost. No doubt some of their subsidiary companies will go on to be highly successful - probably list on the market themselves in the future and make the management / future shareholders a mint!.

Leaves a bitter taste but have learned from the experience ..... be very careful of any company that overpays for acquisitions and ends up with a huge debt burden .... shareholders are always the bottom of the pecking order.

Tully, you have done a great job keeping us informed. I just hope you have not lost your shirt on this share!

Troc

[minsky] 05/9/2012 21:26

Good news for Boeing.
Isn't it too late for Hampson? Share price 0.2p. Suspended. Loan covenants expire at the end of the month.

[tullynessle] 05/9/2012 11:07

I have converted my Posts at 2576 & 2577 into emails and sent the information / comments to Hampson.

[tullynessle] 05/9/2012 11:03

Lets hope that the production progress described below has resulted in significant payments being made, or about to be made, by Boeing to Hampson.




Boeing News (Official Blog) - Published Sept 4, 2012.

Taking shape

The 787-9 is one giant step closer to reality. Major assembly on the first airplane is now underway. Things kicked off on time when Boeing partner Kawasaki Heavy Industries began installing passenger door frames in the forward midbody fuselage.

When complete, that section will hitch a ride on the Dreamlifter to North Charleston where the Boeing South Carolina team will integrate it with other 787 structures. Final assembly will take place in Everett in 2013. First flight of the 787-9 is still set for 2013 and first delivery in 2014.

PHOTOGRAPH

The 787-9 is the second member of the 787 family. At 20 feet longer than the 787-8, the 787-9 will carry 16 percent more passengers up to 8,500 nautical miles (15,750 km).

Reaching this milestone is a significant step for the program-and making it happen on schedule is even more impressive. I can't wait to see this airplane in the skies very soon.


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



Hampson crisis 'won't leave 787 short of production tooling'
2 Aug 2012

Extract:

"Hampson remains a going concern and insists it is still on track to fulfil a $53 million contract to supply Boeing with lightweight mandrel tools for carbonfibre lay-up for a "major commercial aerospace programme". This is likely to be the -9 variant of the 787."

[tullynessle] 05/9/2012 10:14

The availability of Hampson provides an excellent opportunity for China to both increase its participation in the international aerospace industry and to provide further opportunity for skills and knowledge exchange for their domestic operations.


Extract 1:

"Worldwide, Boeing projects investments of $4.5 trillion for 34,000 new commercial airplanes to be delivered during the next 20 years. The complete forecast is available at www.boeing.com/commercial/cmo/index.html."


Extract 2:

"China has a component role on every current Boeing commercial airplane model – the 737, 747, 767, 777, as well as the world's newest and most innovative airplane, the Boeing 787 Dreamliner."



Date : 05/09/2012 @ 09:40
Source : PR Newswire
Stock : Boeing Company (The) (BA)

Boeing Forecasts China Will Need 5,260 New Airplanes by 2031

Boeing (NYSE: BA), China's leading provider of passenger airplanes, projects that China will need 5,260 new commercial airplanes valued at $670 billion over the next 20 years. China is forecast to be the second largest market for new commercial airplanes.

News Release continues....

[minsky] 04/9/2012 20:47

The whole thing seems like theft from the shareholders.
In the US, PIs would take some form of legal action.
The main lender is Lloyds, itself 43% owned by taxpayers.
I suppose, politically, the problem is most of the jobs are in the US. Many of them may be preserved if the business is sold or taken private. Its shareholders who are the losers.

[diku] 04/9/2012 19:57

Tully....must admire your commitment to HAMP and all the news findings within the Aerospace Industry you have been posting here....

About time every listed company ought to have a PI on the board.....there should be some sort of PI's Association that represents PI's that sits on the board of every PLC Casinos.....all too often PI's directly or via fundies have been taken for a mug...

[tullynessle] 04/9/2012 19:50

About Us
CEO Statement

MARKETS
Commercial aerospace markets are in the early phases of what we expect will be a strong cyclical upswing that should last for at least several years. Both Boeing and Airbus have announced progressive increases in planned product rates across almost all major programmes covering the period out to 2013.

Over the medium term, we expect the regional (100-180 seat) jet market to expand, assisted by the availability of new, more fuel efficient engine technologies. These new technologies will power not only Bombardier's new C-Series, but also important new programmes from MHI (Japan), Comac (China), Superjet International & Irkut (Russia) the Airbus A320 NEO and the recently announced B737 MAX, which are all presently in the design, development or initial certification and delivery phases. From both a tooling and component supply perspective, these programmes represent exciting opportunities for Hampson's businesses.

In military aerospace we expect demand to vary across programmes in the shorter term depending on operational need, with budget pressures across the US and Europe adversely impacting some existing programmes. The important F-35 programme, to which the Group supplies both component and assembly tooling systems, as well as advanced, lightweight high temperature composite engine components, will continue to see a progressive increase from low initial production rates.

OUR PEOPLE
Despite the many challenges we have faced in 2010/11 and the difficult decisions we have at times had to take during the year, the commitment and dedication of our people has been outstanding. I would like to take this opportunity to thank them all for their efforts and pay tribute to their professionalism.

OUTLOOK
Although some short term challenges remain, I am confident that the actions we have taken and those we continue to pursue have laid the foundations for a return to sustainable growth and higher levels of performance going forward.

[tullynessle] 04/9/2012 19:45

I have read the Brochures and watched the DVD's.

I am unwilling to accept that current owners/shareholders have no residue value in the Hampson manufacturing machine.

As far as I am aware the Company is able to service its debt.

Shareholders via Management have invested in the Company and the Capital Equipment, Human Resources and Operational, Commercial & IT Systems are in place to continue the performance of production and services.

Confidence and the business environment within the aerospace industry is positive for the near, medium and longer term.

It may be convenient for Hampson's primary Lender to require repayment of debt, (due to inconsistency with covenant terms).

It may be convenient for major Airframers to strengthen their Supply Chains, (perhaps by encouraging consolidation).

However it is not acceptable for such activity to occur an the expense of current shareholders who have supported the Company over the past years.

IMO, Management and the Board of Directors appear to have ignored their fiduciary accountability the rights of Shareholders in their handling of the Operational and Commercial challenges that have faced Hampson over the past year.


For example:

- risk management to prevent a problem in one subsidiary from endangering the entire Company

- risk management with respect to contracting and the cost of delays not caused by Hampson

- risk management with regard to the performance of Work specific to the "Issue" and remedial action, to include, as may be applicable, materials, drawings, participation and responsibilities of clients, pre-assembly and assembly testing, acceptance process, payments, insurance, remediation and compensation, etc etc

- risks due to the sufficiency or otherwise of contingency planning, to include, as may be applicable, Integrity of Commercial Model(s) especially at the time funds were raised through Rights Issues and Placings, timeliness of Debt Management, Avoidance of and Management of Challenges such as the "Issue".

According to the website there are no Holdings in excess of 3%.

Perhaps it is time for Private Shareholders to prepare for news due before September 28.

Apologies if I have written anything that is inaccurate, unfair or unreasonable.

[tullynessle] 04/9/2012 18:54

Hampson Corporate DVD - Tooling