30 Sep 2015 07:00
30 September 2015
Northbridge Industrial Services Plc
("Northbridge" or the "Company")
Directorate Change
Northbridge Industrial Services plc, the industrial services and rental company, announces that, as part of the cost cutting exercise described in the interim results announced this morning, it has reduced the number of senior staff positions. As a result Craig Robinson, the Group Finance Director, is leaving the Company with effect from today. As a more streamlined group, the Company does not intend to bring in a new external replacement until a recovery is visible in the sectors in which it operates and the opportunities for further growth return.
In the meantime, the finance director functions will be assumed by Iwan Phillips ACA, the company secretary and financial controller, supported and supervised by the three qualified accountants on the Board, namely the Chairman, the CEO and Ash Mehta, the former finance director.
Peter Harris, Chairman of Northbridge, said: "We thank Craig Robinson for his contribution to the Company's growth over the last four and a half years and the other staff, who are leaving the Company, for their hard work and wish them well in the future."
For further information
Northbridge Industrial Services plc 01283 531645
Eric Hook, Chief Executive Officer
Westhouse Securities Limited (Nominated Adviser and Broker) 020 7601 6100
Robert Finlay/Antonio Bossi /Henry Willcocks
Buchanan Communications 020 7466 5000
Charles Ryland / Stephanie Watson
About Northbridge:
Northbridge Industrial Services plc hires and sells specialist industrial equipment. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, India, Brazil and Korea, Northbridge has a global customer base. This includes utility companies, the oil and gas sector, shipping, banking, mining, construction and the public sector. The product range includes loadbanks, transformers, and oil tools. Northbridge was admitted to AIM in 2006 since when it has recorded increased earnings and dividends based on providing a high level of service, responsiveness and flexibility to customers. It has grown by the acquisition of companies in the UK, Dubai, Australia, Belgium and Singapore and through investing further in those acquired companies to make them more successful. Northbridge continues to seek suitable businesses for acquisition across the world.