Manufacturing Plant Closure

Volex Group PLC 17 October 2001 VOLEX GROUP p.l.c. Volex Group p.l.c. the world's leading independent manufacturer of electrical and electronic cable assemblies and electrical power cords, announces that it is to close its original North American manufacturing plant in Dartmouth, Massachusetts and transfer the manufacturing capacity to other facilities, principally to its plant in Conover, North Carolina. The closure, which will be completed by the end of calendar year 2001, will enable Volex to capitalise on the more modern and comprehensive manufacturing facilities at Conover and maintain sufficient capacity and flexibility to support the service requirements of its customer base on a reduced cost basis. The one-off cost of the closure is anticipated to be some £1.1m and this will be charged against the results of the second half of the current year ending 31 March 2002. Net savings in a full year are expected to be in the region of £1.4m. It is expected that the manufacturing plant will be sold in the next financial year (2002/03) and that the proceeds will exceed the cash cost of the closure. * * * * * Note: Volex is scheduled to announce its results for the half year ended 30 September 2001 on Wednesday, 7 November 2001. For further information, please contact: Volex Group p.l.c. Tel: 01925 830101 Dom Molloy, Group Chief Executive Ken Hooper, Group Finance Director Weber Shandwick Square Mile Tel: 020 7601 1000 Chris Lynch / Graham Herring

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Volex (VLX)
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