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Statement re. Press Comment

7 Feb 2011 07:00

RNS Number : 7700A
UMECO PLC
07 February 2011
 

  

7 February 2011

Umeco plc

 

 

 

Umeco notes the recent speculation in relation to a possible sale of Pattonair, its Supply Chain business. The Board can confirm that it is in non-exclusive discussions which may or may not lead to a sale of Pattonair. No final terms are agreed and any such disposal would be subject, inter alia, to shareholder approval under the Listing Rules.

 

A further announcement will be made as appropriate.

 

 

 

 

- Ends -

 

 

For further information, please contact:-

 

Tulchan Communications

Tel: +44 (0) 207 353 4200

John Sunnucks

Christian Cowley

 

Notes

The next scheduled update on the Group's performance will be the Interim Management Statement which will be issued on or before 17 February 2011.

 

Further Information on Umeco plc

Umeco is a leading innovator in distribution and supply chain management to the aerospace & defenceindustries, harnessing new methods for enhancing its customers' performance and profitability. Umeco also has significant manufacturing interests in advanced composite materials for a growing range of applications in its core aerospace anddefencemarkets and in other high performance technology industries such as motor sport, automotive and wind energy.

 

Listed on the London Stock Exchange, Umeco had revenue from continuing operations of £409.4 million in the year to 31 March 2010.

 

Umeco is managed through three business streams:-

 

Umeco Composites - Structural Materials

 

Development, manufacture and supply of advanced composite materials. Specialising in the manufacture of high performance composite materials for a diverse range of industries such as aerospace, marine, motor sport & automotive, construction, wind energy and leisure sports. Structural Materials has manufacturing operations in the UK and the US, and distributes its products worldwide. Customers include Boeing, Airbus, manufacturers of high performance super cars and Formula 1 teams.

 

Umeco Composites - Process Materials

 

Development, manufacture and supply of vacuum bagging materials to the composites industry and other markets, providing a wide range of materials and technical support to a growing number of international customers. Process Materials has manufacturing operations in Italy and France, and value-added distribution facilities in the UK and the US. It has a global distribution network. Customers include Airbus, Boeing and manufacturers of wind turbine blades.

 

Umeco Supply Chain 

 

A leading international provider of value-added distribution and supply chain outsourcing services to customers in the aerospace & defence market. With its specialisation in the supply of small and medium value components and sophisticated IT systems, its growing global customer base can enjoy significant operational, cost and working capital benefits. The Supply Chain businesses trade globally as Pattonair. Customers include Rolls-Royce plc, BAE Systems, Safran Group, Parker Aerospace, Goodrich, Thales Aerospace, Turbomeca, ATK, Lockheed Martin and the US Department of Defense.

This information is provided by RNS
The company news service from the London Stock Exchange
 
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