24 Oct 2018 07:00
24 October 2018
The 600 Group Plc
("600 Group" or "the Group")
Senior Management Appointments
The Board of 600 Group is pleased to announce the appointment of Terry Allison to the newly created position of Chief Operating Officer, effective 1 November 2018, and Don Haselton to the newly created position of Managing Director - Development, with immediate effect.
Terry Allison (BEng, MBA) recently held the position of Managing Director for the UK machine tools operation, which has undergone a significant transformation. Prior to joining the group in 2016, Terry worked for Sandvik, a Swedish global engineering technology group with a turnover of $10 bn, holding several senior positions in the UK.
Don Haselton spent 21 years with General Electric and 11 years with Fadal Engineering before joining the Group in 2006 and successfully leading the turnaround of the US business as the Managing Director of the North American machine tools operation. He has most recently been the Managing Director of the Global Machine Tool Division.
The Board confirms that trading remains in line with its expectations. The Group will announce its interim results on 19 November 2018 and will host a presentation to analysts and investors 9.30am that morning at the offices of Instinctif Partners, 65 Gresham Street, London, EC2V 7NQ. Please confirm your attendance to 600group@instinctif.com
Commenting on the appointments, Paul Dupee, Chairman, said:
"We are delighted that Terry and Don are strengthening the senior management team in their new roles. We have exciting plans for 600 Group and we are putting together a team with the requisite experience and expertise to build and deliver value over the medium term."
Enquiries:
The 600 Group PLC Paul Dupee, Executive Chairman Neil Carrick, Finance Director
| Tel: 01924 415000 |
Instinctif Partners Mark Garraway James Gray | Tel: 0207 457 2020 |
Spark Advisory Partners Limited (NOMAD) Matt Davis Miriam Greenwood
| Tel: 020 3368 3553 |
WH Ireland (Broker) Adam Pollock Tim Feather | Tel: 020 7220 1666 |
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
About The 600 Group PLC
The 600 Group PLC is a distributor, designer and manufacturer of industrial products with three principle areas of activities:
Machine Tools
The business has a strong reputation in the market for metal turning machines. Products range from small conventional machines for education markets, CNC workshop machines and CNC production machines. Selected outsourcing partners support the manufacturing of these machines and they are marketed through the Group's wholly owned international sales organisation and global distribution network.
Precision Engineered Components
Machine spares are distributed to customers globally to help maintain the installed base of group machines which number in excess of 100,000. Additionally, work holding products and taper roller bearings are sold via specialist distributors to OEMs, including other machine builders.
Industrial Laser Systems
Industrial laser systems are a technologically superior alternative to ink jet marking. It requires no consumables and can operate on a continuous high speed basis when integrated into customers' production lines. The business has its own technology and proprietary software. Customer applications are diverse and range from telecommunications to pharmaceuticals. The requirement for increased product and component traceability is one of the market drivers.
More information on the Group can be viewed at: www.600group.com