IN BRIEF: Chamberlin completes restructure and continues diversifying

Chamberlin PLC - West Midlands-based castings and engineering - Reports completion of restructuring in line with expected cost savings. Says it is now well positioned to exploit the opportunities arising in the new financial year.

Also says that Chamberlin and Hill Castings has won a 3-year contract to supply components for diesel engine generators starting in July. Chamberlin says C&H continues to diversify its customer base to reduce reliance on the automotive sector. As part of diversification, C&H has also launched an e-commerce operation to design and develop products to be sold online. Strong e-commerce growth expected to come from new product development

Chair Keith Butler-Wheelhouse comments: "The recently completed fund-raise has facilitated the restructuring of the C&H Foundry in Walsall and provides a sound platform for growth."

Current stock price: 13.70 pence, up 13% Wednesday

Year-to-date change: up 96%

By Will Paige; willpaige@alliancenews.com

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