Sign In
30 Oct 2008 07:00
๏ปฟ
30 October 2008
Hampson Industries PLC
Furtherย Composite Toolingย Contractย Winย ย
Hampson Industries PLC ("Hampson" or "the Group"), the international aerospace and precision engineering group, today announces that its US subsidiary, Coast Composites, Inc, has received a further order worth $4.2 million from Airbus to supply initial fuselage curing tools for the Airbus A350 XWB programme.
This additional win follows the first A350 tooling orders secured by the Group in August 2008 and takes theย Group's total tooling orders on the programmeย to date to $27ย million, all of which are expected to be delivered by early 2010.ย
The orders secured to date are for the first set of tools only and it is expected that rate and derivative tools will add in excess of USย $80ย millionย of demand for Hampson's tooling businesses over the next threeย toย four years.
Commenting on this latestย win, Group Chief Executiveย Kim Wardย said:
"This latest orderย underpins ourย expectationย of theย growthย inย demand for large, close tolerance tooling systems to enable manufacture of the latest generation of compositeย rich, fuel efficient aircraft.ย
"Hampson is now the largest independent manufacturer of aerospace tooling systems in theย world, with tooling accounting for some 45% of the group's total revenue.ย Ourย firmย order books for composite toolingย now stand at record levels, and with further capacity coming on line, we expect to seeย progressiveย furtherย orderย growth going forward."ย
Ends.
Further information:
Kim Ward, Chief Executive +44 (0)1384 472941
Howard Kimberley, Finance Director +44 (0)1384 472946
Marylene Guernier/Jonathan Gollins, M:Communications +44 (0)20ย 7153 1269
About the Airbus A350:
The Airbus A350 is a long range, mid-sized,ย wide-bodyย family ofย airlinersย currently under development, designed to compete with theย Boeing 777ย andย Boeing 787. The A350 will be the first Airbus withย fuselageย and wing structures made primarily ofย carbon fibreย compositeย and has a scheduledย entryย into serviceย date ofย 2013.
About Hampson:
The Group's operations are structured into three business segments, serving primarily the global commercial and military aerospace and specialist engineering markets from manufacturing facilities in theย UK, North America andย India.
Approximately 95% of the Group's sales are derived from its aerospace activities, the balance from the market for automotive turbocharger components.
In June 2008, Hampson completed the acquisition of Odyssey Industries, Inc. and Global Tooling Systems, Inc. for a total consideration of up to USD314 million, partly financed through a ยฃ65 million placing and open offer. The Group now employsย nearlyย 2,500 peopleย worldwide.ย
Hampson Industries PLC is listed on the main market of the London Stock Exchange (Symbol: HAMP). For more information on Hampson:ย www.hampsongroup.comย
ย
Cautionary Statement:ย
Thisย announcementย containsย forward-lookingย statements that are based on current expectations or beliefs, as well asย assumptions about future events. These forward-looking statements can beย identified by the fact that they do not relate only to historical or currentย facts. Forward-looking statements often use words such as anticipate, target,ย expect, estimate, intend, plan, goal, believe, will, may, should, would, could, is confident,ย or other words of similar meaning. Undue reliance should not be placed on anyย such statements becauseย they speak only as at the date of this document and, by their very nature, they are subject to known andย unknown risks and uncertainties and can be affected by other factors that couldย cause actual results, andย Hampson's plans and objectives, to differ materiallyย from those expressed or implied in the forward-looking statements.
There areย a number ofย factors which could cause actual results to differ materiallyย from those expressed or implied in forward-looking statements. Among the factorsย that could cause actual results to differ materially from those described in theย forward-looking statements are;ย increasedย competition,ย the loss ofย or damage toย one or moreย key customer relationships, changes to customer ordering patterns,ย delays in obtainingย customer approvals for engineering or price level changes, the failure of one or more key suppliers,ย the outcome of business orย industry restructuring,ย the outcome of any litigation,ย changes in economic conditions, currency fluctuations, changes in interest andย tax rates, changes inย raw material orย energy market prices, changes in laws, regulations orย regulatory policies, developments in legal or public policy doctrines,ย technological developments, the failure to retain key management, or the keyย timing and success of future acquisition opportunitiesย or major investment projects.
Hampsonย undertakes no obligation to revise or update any forward lookingย statement contained within this announcement, regardless of whether thoseย statements are affected as a result of new information, future events orย otherwise, save as required by law and regulations.
Follow the stocks
