Avon Rubber PLC
17 January 2001
CHAIRMAN'S STATEMENT
FOR ANNUAL GENERAL MEETING
17TH JANUARY 2001
At the time of our preliminary announcement on November 30th
2000 we stated that 'our international markets continue to
be demanding, but we believe that the overall outlook for
Avon is improving.'
The Group's results for the first quarter of the financial
year are in line with last year although significant cuts to
US vehicle output have affected our own production levels in
North America during December and January. Short term
vehicle production levels are uncertain, but current
information suggests some recovery as stocks of unsold
vehicles reduce. Sales from our Continental European units
have increased while trading conditions for UK operations
remain challenging.
The benefits of lower costs from recent restructuring
throughout the Group will help to offset the impact of
reduced sales to US automotive customers. We continue to
believe that the actions which we have taken will produce
benefits for shareholders.
Enquiries to:
Avon Rubber p.l.c.
Bill Taylor, Business Services Director Tel: 01225 861180
Golin/Harris Ludgate
Richard Hews Tel: 0207 253 2252
Trish Featherstone
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