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13 May 2015 07:00
13 May 2015
Zotefoams plc
("Zotefoams" or "the Company")
AGM Trading Update
Zotefoams, a world leader in cellular material technology, is issuing this trading update for the first quarter ended 31 March 2015, ahead of its Annual General Meeting at 675 Mitcham Road, Croydon CR9 3AL at 10am this morning. At this meeting Nigel Howard, Chairman of Zotefoams plc, will make the following statement:
"Overall trading performance for the first three months of the year is in line with management expectations. We have delivered sales growth in Polyolefin foams, HPP (High-Performance Products) and MuCell Extrusion LLC and have strong forward order books for each of these business segments.
In Walton, Kentucky, USA, the major investment to increase our global manufacturing capacity in support of future growth is proceeding to schedule.
Clifford Hurst, our Finance Director for the last fifteen years, has indicated to the Board his intention to retire during 2016. Clifford has supported us through a period of significant growth, development and investment and I thank him for his invaluable contribution to the Company. We will start the recruitment process for his replacement shortly with the objective of appointing a successor in late 2015 to allow a managed transition through our budget and year-end.
Whilst it is still early in the year and we are mindful of the potential impact of economic conditions we continue to expect 2015 to be another year of progress and remain confident about the long-term prospects for the business."
Enquiries: | |
Zotefoams plc | |
David Stirling, Managing Director | 0208-664-1600 |
Clifford Hurst, Finance Director | |
FTI Consulting | 0203-727-1000 |
Victoria Foster Mitchell/Simon Conway |
About Zotefoams plc
Zotefoams plc (LSE - ZTF) is a world leader in cellular material technology. Using a unique manufacturing process with environmentally friendly nitrogen expansion, Zotefoams produces lightweight foams in Croydon, UK and Kentucky, USA for diverse markets worldwide through its global sales force. Zotefoams also owns and licenses patented MuCell® microcellular foam technology from a base in Massachusetts, USA to customers worldwide and sells T-Tubes® advanced insulation systems made from its patented ZOTEK® fluoropolymer foams.
www.zotefoams.com
ZOTEK® is a registered trademark of Zotefoams plc. MuCell® is a registered trademark of Trexel Inc. T-Tubes® is a registered trademark of UFP Technologies Inc.
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