Chamberlin PLC AGM Statement (5601L)

TIDMCMH

RNS Number : 5601L

Chamberlin PLC

20 July 2017

AIM: CMH

20 July 2017

CHAMBERLIN plc

("Chamberlin", the "Company" or the "Group")

AGM Statement

Chamberlin, the specialist castings and engineering group, will be holding its Annual General Meeting today, and Keith Butler-Wheelhouse, Chairman, will provide the following update on current trading:

"The Company has made a good start to the new financial year with sales in the first three months slightly ahead of management expectations. We have made additional investment at our new machining facility to support the increasing volumes and, accordingly, first half costs will reflect this.

"I am also pleased to highlight a major new contract signed by our foundry operation in the period with an existing customer, a leading European supplier of components and parts to the automotive industry. Worth EUR3.7 million over its seven year term, the contract commences towards the end of 2019 and will replace an existing programme at Walsall for the same customer, which is coming to the end of its life cycle. The award underlines our technical expertise and high service standards as well as our strong customer relationships.

"The Board looks forward to providing a further update on trading in due course."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

Enquiries

 
 Chamberlin plc (www.chamberlin.co.uk)     T: 01922 707100 
  Kevin Nolan, Chief Executive 
  David Roberts, Finance Director 
 
 Smith & Williamson Corporate              T: 020 7131 
  Finance Limited                           4000 
  (Nominated Adviser and Broker) 
  Russell Cook, Katy Birkin 
 
 KTZ Communications                        T: 020 3178 
  (Financial PR)                            6378 
  Katie Tzouliadis, Emma Pearson 
 

About Chamberlin

Chamberlin is a specialist castings and engineering business based in Walsall, in the West Midlands.

The Company's castings operations produce high quality iron castings in various metal grades and weights, and supply a number of sectors, including automotive, construction, power generation, steel and rail.

Chamberlin's engineering operations develop panic and emergency exit door hardware, and lighting and control equipment for hazardous areas.

This information is provided by RNS

The company news service from the London Stock Exchange

END

AGMZMGMNVLGGNZM

(END) Dow Jones Newswires

July 20, 2017 02:00 ET (06:00 GMT)