HAMP.L Regulatory News (HAMP)

27 Jun 2007 07:01

Hampson Industries PLC27 June 2007 Hampson industries PLC Disposal of Precision Industrial Division Hampson Industries PLC, the international aerospace and precision engineeringgroup, announces that it has completed the sale of its Precision IndustrialDivision, comprising Lattimer Limited, a UK subsidiary, and I. S. PartsInternational, Inc. (trading as Lattimer USA), a US subsidiary, to LattimerHoldings Limited a vehicle set-up and funded by Merseyside Special InvestmentFund for a total consideration of £3.967 million. The Precision Industrial Division, whose principal activities comprise themanufacture of components and assemblies for the glass bottle and containermanufacturing industry, generated total revenue of £8.2 million in the yearended 31 March 2007 and earnings before interest, depreciation, amortisation andtax of £0.6 million. Commenting on the disposal, Chief Executive Kim Ward said: "This transaction marks a further achievement in our strategy to reposition theGroup to generate higher performance levels. It evidences our commitment tofocus on our core business and to divest operations that we consider do not meetour requirements for long term growth potential". The proceeds of the disposal will be used to repay existing indebtedness. Ends. Further information: Kim Ward, Chief Executive +44 (0)1384 472941 Howard Kimberley, Finance Director +44 (0)1384 472946 Jonathan Gollins/Marylene Guernier, M:Delta +44 (0)207 153 1269 Notes to Editors : Hampson Industries PLC is listed on the main market of the London StockExchange. Following the sale, the Group's operations will be structured intothree segments, operating from 14 manufacturing facilities spanning threecontinents. Through its international operations, the Group providesleading-edge, fully-integrated engineering and manufacturing solutions for: • Aero structural components and assemblies • Performance-critical components for gas turbine engines • Close tolerance components & rotating assemblies for turbochargers, fuel delivery & hydraulic applications • Precision tooling systems for large, composite aero structures Approximately 85% of the continuing Group's sales are derived from its aerospaceactivities, the balance from the specialist automotive markets. Hampson has a clear growth strategy based on both organic and externalinvestment. Over the last two years, the group has completed four acquisitionsin the USA (Texstars Inc, Coast Composites Inc, Lamsco West Inc. and CompositesHorizons Inc) as well as invested $20m in a new purpose-built aerospace assemblyand high speed machining cell to support the revolutionary new Eclipse 500 VeryLight Jet programme, to which it is one of the major supply partners(www.eclipseaviation.com). Recent investment in a new manufacturing facility in Bangalore is a core elementof the Group's growth strategy and marks Hampson's commitment to developing acentre of manufacturing expertise on the Asian continent. The Hampson group employs over 1,700 people worldwide. For more information on Hampson: www.hampsongroup.com This information is provided by RNS The company news service from the London Stock Exchange