7 Aug 2008 07:00
7 August 2008
The 600 Group PLC
("600 Group" or the "Company")
Board change and trading update
Board change
The Company announces the departure of Andrew Dick, the Company's Group Chief Executive, who has resigned as a director of the Company with immediate effect in order to pursue other business interests.
The Company is pleased to announce the appointment of David Norman to the Board as its new Group Chief Executive also with immediate effect.
David Norman (55) has extensive experience of managing international manufacturing operations. Between 1986 and 1997 he held a number of senior managerial positions within Hanson PLC, most recently, between 1996 and 1997, as managing director of its electrical division. He participated in the subsequent MBO of that business, renamed Electrium, and remained as a main board director until the end of 2000. From early 2001 to 2007 David was a divisional managing director at Saia-Burgess AG, a fully listed Swiss engineering concern, subsequently acquired by Johnson Electric, a Hong Kong based multinational. He has more recently been involved in a number of project based operational roles.
No further information is required to be disclosed pursuant to Listing Rule 9.6.13.
In addition to the Board change, the Company also announces the appointment of David Richardson as Managing Director, Machine Tools Division to coordinate the sales and operations of this, the major part of the 600 Group. David's engineering career spans 26 years, his most recent role being that of managing director of Mettler Toledo Safeline Limited. David will report directly into the Group Chief Executive.
Martin Temple, Chairman of 600 Group, commented:
"In David Norman we have selected a Group Chief Executive who we believe can provide the leadership qualities and operational skill sets required to develop and enhance the Company's businesses and to optimise shareholder value. We are delighted to welcome him to the Board.
David Richardson will bring a focus to the Machine Tools Division and his experience in modern manufacturing and supply chain logistics will enhance the Division's performance.
We should like to thank Andrew Dick for his significant contribution to the Company during his three years with the 600 Group and we wish him every success in the future."
Trading update
In the Company's announcement of its preliminary results for the year to 29 March 2008, released on 4 June 2008, it was stated that:
"Despite the overall more challenging economic environment, we started the current year with a healthy order book, including a major aerospace contract, and our order levels have remained reasonable during the first two months of the current year."
Trading since that time has continued in line with the Board's expectations. A further update on trading will be contained within the Company's next Interim Management Statement, which is due to be released on 15 August 2008.
Enquiries
| The 600 Group PLC | Telephone: 020 7222 7777 |
| Martin Temple, Chairman | |
| Hudson Sandler | Telephone: 020 7796 4133 |
| Nick Lyon | |
| Wendy Baker |
Notes to Editors
The 600 Group PLC is an international group, manufacturing and marketing machine tools, machine tool accessories, lasers and other engineering products.
The Group operate from some 30 locations world-wide and sell its products around the world. Its international marketing and distribution network handles both Group products and those of other manufacturers.
Website: www.600group.com