Carclo PLC
6 September 2001
Carclo plc
AGM Trading Statement
The following statement was made to shareholders at the
company's Annual General Meeting today:
'We continue to make good progress with our long term
strategy of developing a leading global technical plastics
business. Our new facility in the Czech Republic is on
track and enquiry levels are very encouraging. Earlier this
week we announced the disposal of our last remaining steel
wire business which provides resources for the future
development of the group.
'In our latest annual report published in June 2001, we
highlighted the strength of our medical business and the
resilience of our automotive business. In teletronics
markets, however, we stated that conditions had been
disappointing and continued to be uncertain. At that time,
we saw some signs of improvement in terms of forward
schedules in teletronics. These improvements have not been
sustained in the second quarter, leading us to expect
disappointing group trading for the first half. There is no
sign of recovery in teletronics and, given its continued
uncertain outlook, we are well advanced with a review that
will reduce our UK capacity to more closely match ongoing
market demand.
'In specialist wire, market conditions are challenging but
our operations are making modest progress.
Our US business continues to recover and we have some good
new programmes in both medical and automotive that are
starting in the second half of the current year. We are,
therefore, confident that the group will exit the year
displaying the momentum to deliver growth in 2002/03 and
beyond.'
For further information please contact:
Carclo plc
Ian Williamson, Chief Executive 01924 330 500
Chris Mawe, Finance Director
Golin/Harris Ludgate
Peter Gaze/Rachel Child 020 7324 8888
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