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Pin to quick picksChamberlin & Hill Regulatory News (CMH)

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Operational Update

19 May 2021 07:00

RNS Number : 0748Z
Chamberlin PLC
19 May 2021
 

19 May 2021

 

Chamberlin plc

("Chamberlin" or the "Company")

 

Operational Update

 

Chamberlin plc (AIM: CMH.L), the specialist castings and engineering group, announces the following operational update.

 

The restructuring of Chamberlin and Hill Castings Limited ("C&H") and the integration of C&H and Chamberlin PLC head office has now been completed in line with expected cost savings. The Company is also pleased to announce that C&H has won a 3-year contract to supply components for diesel engine generators commencing in July 2021.C&H has been informed that an existing Tier 1 customer has included the Company on a new low volume, high value 5-year programme to manufacture turbocharger bearing housings for a leading luxury sports car manufacturer, with supply commencing early 2022.

 

Chamberlin also announces that C&H continues to diversify its customer base, to reduce reliance on the automotive sector. C&H has launched an eCommerce operation to design and develop consumer products to be sold via the internet. Sales of kettle bells, the first products from this initiative are already being made from our new website www.ironfoundryweights.co.uk. Strong eCommerce growth is expected to come from new product development, including authentic 'retro' household and commercial products from our 130-year design archive, and from extending sales into the global marketplace.

 

Russell Ductile Castings continue to win work in railways, the renewables sector (particularly for offshore wind farms) and for major UK infrastructure projects in power and water. The total forward order book for RDC is strong and the workforce has been expanded by approximately 30%, compared with the same period last year, to meet demand.

 

Petrel announces that it has successfully completed the on-time supply of a significant MoD contract to supply specialist ATEX lighting for installation on a flagship vessel for the Royal Navy, putting it in a strong position for the award of further contracts. Following a period of strong demand, Petrel is also increasing its workforce to support an expansion of development and production capacity.

 

Chairman, Keith Butler-Wheelhouse, commented:

 

"The recently completed fund-raise has facilitated the restructuring of the C&H Foundry in Walsall and provides a sound platform for growth. Efforts are concentrated on replacing revenue at C&H, following the loss of major contracts at the end of 2020. Your Directors are confident that the Company is now well positioned to exploit the opportunities arising in the new financial year commencing 1 June 2021."

 

 

Enquiries:

 

Chamberlin plc

Kevin Nolan, Chief Executive

Neil Davies, Finance Director

T: 01922 707100

Cenkos Securities plc

(Nominated Adviser and Joint Broker)

Russell Cook

Katy Birkin

 

T: 020 7397 8900

Peterhouse Capital Limited

(Joint Broker)

Heena Karani

Duncan Vasey

T: 020 7469 0930

 

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Date   Source Headline
27th Feb 20241:24 pmRNSHolding(s) in Company
22nd Feb 20247:00 amRNSCompletion of Sale of Petrel Limited
21st Feb 202412:01 pmRNSSale of Petrel Limited
21st Feb 202412:00 pmRNSInterim Results
18th Jan 20243:34 pmRNSHolding(s) in Company
16th Jan 20241:20 pmRNSHolding(s) in Company
11th Jan 20246:26 pmRNSHolding(s) in Company
10th Jan 20245:12 pmRNSHolding(s) in Company
9th Jan 20247:00 amRNSPlacing and Subscription
3rd Jan 20242:41 pmRNSResult of AGM and Trading Update
15th Dec 20237:00 amRNSCorporate Update
30th Nov 20231:40 pmRNSFinal Results
28th Nov 20235:00 pmRNSHolding(s) in Company
24th Oct 20234:22 pmRNSChange of Nominated Adviser and Joint Broker
18th Oct 20232:14 pmRNSHolding(s) in Company
27th Jul 20232:00 pmRNSGrant of Share Options
24th Jul 202310:17 amRNSDirector/PDMR Shareholding
22nd Jun 20232:03 pmRNSMajor Contract Win
8th Jun 20237:00 amRNSHolding(s) in Company
26th May 20237:00 amRNSPlacing and Subscription
2nd May 20233:42 pmRNSSale and Leaseback of Walsall Property
28th Feb 20237:00 amRNSHalf-year Report
2nd Feb 20234:14 pmRNSHolding(s) in Company
1st Feb 20235:24 pmRNSHolding(s) in Company
1st Feb 20237:00 amRNSHolding(s) in Company
26th Jan 202311:53 amRNSPlacing and Subscription
19th Dec 202211:00 amRNSHolding(s) in Company
16th Dec 20221:49 pmRNSCorporate Update
30th Nov 202211:37 amRNSResult of AGM
30th Nov 20227:00 amRNSAGM Statement and Trading Update
21st Nov 20222:44 pmEQSChamberlin PLC 'left no stone unturned' during return to profit
7th Nov 20225:31 pmRNSPosting of Annual Report and Notice of AGM
4th Nov 202212:23 pmRNSFinal Results
31st Oct 202211:32 amRNSAnnouncement re: Full year results
29th Sep 20227:00 amRNSAnnouncement re: Full year results
29th Jul 20227:00 amRNSIssue of Equity and Director/PDMR Shareholding
25th Jul 20225:30 pmRNSDirector/PDMR Shareholding
18th Jul 20227:00 amRNSHolding(s) in Company
8th Jul 20225:20 pmRNSDirector/PDMR Shareholding
8th Jul 20227:00 amRNSFull Year Trading Update and Notice of Results
8th Jun 20229:42 amRNSDirector/PDMR Shareholding
5th May 20221:13 pmRNSSale and Leaseback of RDC Property
25th Mar 20227:00 amRNSDirector/PDMR Shareholding
18th Mar 20222:30 pmRNSDirector/PDMR Shareholding
24th Feb 20227:00 amRNSHolding(s) in Company
21st Feb 20227:00 amRNSHolding(s) in Company
18th Feb 202210:30 amRNSResult of General Meeting and Total Voting Rights
2nd Feb 20227:00 amRNSProposed Placing and Subscription and Notice of GM
5th Jan 202212:15 pmRNSResult of AGM
4th Jan 20227:00 amRNSContract Award

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