Capital Markets Event

RNS Number : 6025Q

Vesuvius plc

18 June 2015

 



18 June 2015

Vesuvius plc ("Vesuvius" or "the Group")

Capital Markets Event

Vesuvius plc, a global leader in molten metal flow engineering, is hosting a Capital Markets Event today and tomorrow for analysts and investors in Düsseldorf, Germany. 

This will include presentations from executive and senior management, and a visit to the key global trade fairs for steel and foundry, METEC and GIFA.

Vesuvius' management team will give more detail on the Group's progress since its demerger in 2012, long-term growth drivers and strategy for profitable growth, focusing on the following areas:

·   Since Vesuvius' demerger in 2012, the Group has made significant progress in both its financial performance and strategic positioning and outperformed its underlying markets, notably through:

o  Streamlining the business;

o  Improving return on sales; and

o  Positioning the Group for growth.

·   The Group sees potential for significant growth in the medium term, and expects its underlying markets to grow at approximately 5% CAGR in the medium term, driven by:

o  Indian steel production growth;

o  Chinese market conversion from "long" to "flat" steel consumption;

o  Growth in the foundry market at similar levels to the steel market; and

o  Regulation around pollution and energy-saving.

·   Vesuvius has a clear strategic focus to capture this growth potential:

o  Innovation and investment in technology;

o  Driving excellence in manufacturing; and

o  Developing its technical services offering.

To underpin its operational and strategic objectives and further strengthen its financial position, Vesuvius has recently signed a new £300 million Revolving Credit Facility with a duration of up to seven years.  This replaces the existing £425 million bank facility which was due to mature in April 2016. 

Following the publication of the trading update on 14 May, no update on current trading will be provided at this event.

 Copies of the slides from the presentations made will be available on the Group's website (http://investors.vesuvius.com/investor-relations) later today, and tomorrow.

For further information please contact:

Shareholder / analyst enquiries:

Vesuvius plc                      François Wanecq, Chief Executive                                           [phone]

                                                Chris O'Shea, Chief Financial Officer                                      [phone]

                                                Nicolas Matheï, Group Head of Corporate Finance           [phone]

                                                Virginia Skroski, Investor Relations Manager                      [phone]

Media enquiries:

MHP Communications   John Olsen / Jamie Ricketts / Ollie Hoare                             [phone]

About Vesuvius plc

Vesuvius is a global leader in molten metal flow engineering principally serving the steel and foundry industries.

We develop innovative and customised solutions, often used in extremely demanding industrial environments, which enable our customers to improve their manufacturing processes, enhance product quality and reduce energy consumption.  These include flow control solutions, advanced refractories and other consumable products and - increasingly - related technical services including data capture.

We have a worldwide presence.  We serve our customers through a network of low-cost manufacturing plants located close to their own facilities, and embed our industry experts within their operations, who are all supported by our global technology centres.

Our core competitive strengths are our market and technology leadership, strong customer relationships, well established presence in developing markets and our global reach, all of which facilitate the expansion of our addressable markets.

Our ultimate goal is to create value for our customers, and to deliver sustainable, profitable growth for our shareholders giving a superior return on their investment whilst providing each of our employees with a safe workplace where he or she is recognised, developed and properly rewarded.

As announced previously, the board has a clearly defined strategy for profitable growth, with five stated strategic priorities:

·   Reinforcing our technology and innovation leadership positions;

·   Enlarging our addressable markets through the increasing penetration of existing and new value-creating solutions;

·   Leveraging our strong positions in developing markets to capture the growth opportunities that they represent;

·   Improving our cost leadership and our margins; and

·   Building organically, and through acquisition, an increasingly comprehensive technical services offering.

 

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