HAMP.L Regulatory News (HAMP)

22 Mar 2006 07:02

Hampson Industries PLC22 March 2006 Hampson Secures Second Major Contract with Eclipse Hampson Industries PLC, the international aerospace and precision engineeringgroup has today announced a second contract award with pioneering, Albuquerque,USA-based Eclipse Aviation Corporation. The exclusive 5 year contract has been awarded to the group's Transparencies,Composites & Plastics division, based in the USA. The contract value isinitially estimated at US$ 75 million. The group's Aerospace Fabrications &Assemblies division already manufactures and supplies the complete aluminiumempennage structure for the Eclipse 500 from dedicated facilities in the UK andUSA. Under the contract, Hampson will supply composite aero structural components andassemblies for the revolutionary new Eclipse 500 very light jet (VLJ) on ajust-in-time basis from the existing facilities, of Texstars Inc, based in GrandPrairie, Texas, USA. The contract will require an estimated initial investmentof US$0.8 million in non-recurring tooling and engineering costs, and deliverieswill commence in the current financial year. Divisional Managing Director, Greg Frye said: "We are delighted to have been selected by Eclipse to be part of thisground-breaking, high volume VLJ programme. This contract is a testament to ourcommitment to developing a lean culture, streamlined manufacturing processes,engineering capability, and our ability to innovate and solve demandingtechnical challenges and above all the dedication and skill of our employees." Group Chief Executive Kim Ward said: "This contract further builds on the strength of our successful existingrelationship with Eclipse. It also show-cases the strength and depth of ourbusiness and in particular our capabilities in the manufacture of advancedcomposite structures, for which we are experiencing a progressively increaseddemand from our aerospace customers. It is particularly pleasing to reflect on the continuing success of our growthstrategy and our customers' endorsement of our decision to acquire Texstars, inDecember 2004." Earlier this month Eclipse Aviation celebrated a major milestone as it beganbuilding the first Eclipse 500 jet that will be delivered to a customer. Flighttesting for the Eclipse 500 is continuing with full FAA certification expectedby late Q2 2006. Eclipse Aviation was recently honoured for the development ofthe Eclipse 500 by the National Aeronautic Association, which awarded Eclipsethe prestigious Robert J. Collier Trophy for the "greatest achievement inaeronautics or astronautics in America." Ends. Further Details: Kim Ward Chief Executive +44 (0) 1384 472941 Howard Kimberley Finance Director +44 (0) 1384 472946 Jonathan Gollins Financial Village +44 (0) 870 735 1332 Note to Editors About Hampson Hampson Industries PLC is a rapidly growing international group serving theglobal aerospace, precision automotive and specialist engineering markets, withapproximately 1,600 employees and operations in the UK, the USA and India. In December 2003, the group announced a record contract to manufacture andassemble the complete empennage (tail structure) for the revolutionary newEclipse 500 Very Light Jet. In December 2004, Hampson acquired Texas, USA-based Texstars Inc, a leadingmanufacturer of military aircraft transparencies and composite products foraerospace and defense applications. In December 2005, the group acquired California, USA-based Coast Composites Inc,a leading manufacturer of large, critical tolerance tooling for aero structuralcomponents and Lamsco Inc, a niche manufacturer of laminated shims andspecialist components for airframe construction. On 9 March 2006 Hampson was promoted to the FTSE SmallCap Index from the FTSEFledgling. The group's market capitalisation rose by 81%, from £81m in October2005 to £147m at the time of entry. http://www.hampsongroup.com About Eclipse Eclipse Aviation is in the business of designing, certifying and producingmodern, affordable jet aircraft that will revolutionize the transportationmarket. The company is applying advanced electronics systems, manufacturing andbusiness practices to produce aircraft that cost less than a third of today'ssmall jet aircraft, will be significantly safer and easier to operate than thoseof today, and have the lowest cost of ownership ever achieved in a jet aircraft. The goal of Eclipse is to bring the word "personal" into aviation, making itpossible for commercial air passengers to move directly between cities on aquick, affordable and convenient basis. It will also allow pilot owners to enterthe world of jet-powered aviation. http://www.eclipseaviation.com This information is provided by RNS The company news service from the London Stock Exchange