Annual Financial Report & AGM

RNS Number : 3328D

Flowtech Fluidpower PLC

25 April 2017

 

Issued on behalf of Flowtech Fluidpower PLC Wednesday 26 April 2017 Immediate Release

FLOWTECH FLUIDPOWER PLC ("Flowtech" or the "Group" or "Company") 2016 Annual Report and Financial Statements for the year ended 31 December 2016

The full Financial Statements for the year ended 31 December 2016 have been published on the Company's website at http://flowtechfluidpower.annualreport2016.com together with the Notice convening the Company's 2017 Annual General Meeting.  Copies can also be requested by writing to The Company Secretary, Flowtech Fluidpower plc, Pimbo Road, Skelmersdale, Lancashire WN8 9RB or email to [e-mail]. 

ANNUAL GENERAL MEETING

The Annual General Meeting will be held on 25 May 2017 at 10am. at the offices of our joint brokers, finnCap, 60 New Broad Street, London EC2M 1JJ.

Enquiries to:

Flowtech Fluidpower plc

Bryce Brooks, Chief Financial Officer & Company Secretary

Tel: [phone]

Zeus Capital Limited (Nominated Adviser and Broker)

Andrew Jones, Jonathan Sharp (corporate finance)

Dominic King, John Goold (sales & broking)

Tel: [phone]

finnCap Limited (Joint Broker)

Ed Frisby, Kate Bannatyne (corporate finance)

Rhys Williams, Emily Morris (sales & broking)

Tel: [phone]

TooleyStreet Communications (IR and media relations)

Fiona Tooley

Tel: [phone] or email: [e-mail]

About Flowtech Fluidpower plc (AIM: FLO), founded as Flowtech in 1983, is the UK's leading specialist supplier of technical fluid power products. The Group has three divisions: Flowtechnology, Power Motion Control and Process. All three of the Group's divisions have overlapping product sets, allowing procurement synergies to be maximised.

The Flowtechnology division focuses on supplying distributors and resellers of industrial MRO (maintenance, repair and operation) products, primarily serving urgent orders rather than bulk offerings. It is formed from Flowtechnology UK, Flowtechnology Benelux and Indequip. It offers an unrivalled range of Original Equipment Manufacturer (OEM) and Exclusive Brand products to over 3,400 distributors and resellers and the catalogues are recognised as the definitive source for fluid power products, containing 100,000 individual product lines and are distributed to more than 80,000 industrial Maintenance, Repair and Overhaul end users (MRO). The Power Motion Control division specialises in the design, assembly and supply of engineering components and hydraulic systems and is further enhanced by a service and repair function. The division is formed from Primary Fluid Power, Nelson Hydraulics, TSL Fluidpower and HTL.  The Process division focuses on the supply of industrial components to the process sectors.

The Group's main distribution centre is in Skelmersdale, Lancashire with further distribution centres in the Netherlands and China. The Power Motion Control division (PMC) has operations in Merseyside, Northern Ireland, the Republic of Ireland, Shropshire and Yorkshire; Process operates from the West Midlands.  In total the business employs 319 people.

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

 

END

 

 

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