Tt Electronics Regulatory News (TTG)

16 May 2007 12:21

TT electronics PLC16 May 2007 AGM STATEMENT All resolutions put to the Annual General Meeting of TT electronics plc wereduly passed. Speaking at the meeting, John Newman, Executive Chairman of TT electronics, madethe following comments: "On behalf of the Board I would like to give my thanks to Timothy Reed, whoretired from the Board yesterday, for the 34 years of valuable service and theexcellent contribution that he has made to the growth of TT electronics. "I would also like to take this opportunity to let you know that, due to healthreasons, I am reducing my time commitment to TT electronics. I will remainclosely involved with the Company in my role as Executive Chairman but in futurewill work part time and I am confident that our strong executive team willcontinue to build on the success of the group. "Our latest acquisition in the USA, TT Apsco Inc, a company operating in theelectronic manufacturing services sector, has started well. It was a keystrategic objective of this acquisition to exploit the synergies with thegroup's existing EMS operations. We have already won our first order for newbusiness from a TT Apsco customer for manufacture in our facilities in China. "Our drive for new technologies continues and development contracts for ourAutopad(R) technology are progressing well. Anotherm(TM) technology, for visibleLED applications, is starting to gain acceptance in the volume automotivemarket. New development contracts have been won for solid state lighting systemsfor the German automotive market. These are expected to be worth £50 millionover the life of the programmes and we anticipate that these excitingtechnologies will gain further orders, particularly in the European automotivemarket. "I am pleased to report to shareholders that TT electronics' main markets areperforming at levels similar to last year and I am looking forward to furtherprogress in the remainder of the year." For further information please contact: TT electronics plcJohn W Newman, Executive Chairman: Tel: 01932 856 647Neil Rodgers, Chief Executive Tel: 01932 841 310 BiddicksZoe Biddick: Tel: 020 7448 1000 This information is provided by RNS The company news service from the London Stock Exchange