Last checked at 22 Jan 2018 07:00
AIM: CMH
22 January 2018
CHAMBERLIN plc
("Chamberlin" or "the Company")
Machining Claim Update
Chamberlin, the specialist castings and engineering group, is pleased to announce an update on the claim against a machine supplier.
On 18 October 2017, the Company advised that margins have suffered due to the difficulties encountered with the start-up of its new machining facility. The Company has been working closely with the machine and tooling suppliers, and is now pleased to report that substantial progress has been made towards resolving these technical problems. In addition, the Company can also report that a satisfactory settlement has been reached with the supplier of the new machining cells, following the initiation of a claim, as reported within the half year results on 28 November 2017.
A further update on progress at the machining facility and on trading will be announced by the end of March 2018. Preliminary results for the year ended 31 March 2018 are expected to be announced at the end of May 2018.
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 (Nominated Adviser and Broker) Russell Cook/Katy Birkin | T: 020 7131 4000 | |
KTZ Communications (Financial PR) Katie Tzouliadis/Emma Pearson | T: 020 3178 6378 |