Last checked at 20 Jul 2017 07:00
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 €3.7 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) Kevin Nolan, Chief Executive David Roberts, Finance Director | T: 01922 707100
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Smith & Williamson Corporate Finance Limited (Nominated Adviser and Broker) Russell Cook, Katy Birkin | T: 020 7131 4000 | |
KTZ Communications (Financial PR) Katie Tzouliadis, Emma Pearson | T: 020 3178 6378 |
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.