Major Contract Win

RNS Number : 9703U

Chamberlin PLC

26 October 2010

 



AIM:CMH

26 October 2010

CHAMBERLIN plc

("Chamberlin" or the "Group")

Major Contract Win

Chamberlin, the advanced engineering group, is pleased to announce that its heavy casting subsidiary, Russell Ductile Castings ("RDC") has secured orders worth a total of £1.4m over the next 18 months for the supply of specialist castings to a leading engineering group, based in the UK, with operations globally.

The contract, which is covered by a non-disclosure agreement, was placed after detailed technical and commercial due diligence.  The castings are for critical parts of equipment used by the natural gas industry and will be ultimately exported to the end customer. First shipments of castings have already been made and there is a schedule for further deliveries over the next 18 months. 

RDC, which is based in Scunthorpe, specialises in the development and production of technically demanding castings of up to six tonnes in weight.  This prestigious contract confirms RDC's position as the UK leader in this market and its ability to succeed against European competition.  It also demonstrates the export-led recovery which is driving the engineering sector in the UK.

Tim Hair, Chief Executive, of Chamberlin, commented,

"This is a prestigious contract win for our heavy castings subsidiary, based in Scunthorpe.  Secured against significant competition, including European foundries, the win demonstrates Chamberlin's strength in the production of technically demanding, high specification castings, where component integrity is critical. 

We believe that our heaving castings operation has scope to increase sales significantly and having strengthened the management in late 2009, we are pleased to see the benefits coming through in new orders."

For further information, please contact:

Chamberlin plc		T: 01922 707100
Tim Hair, Chief Executive
Mark Bache, Finance Director
Charles Stanley Securities Nominated Adviser		T: 020 7149 6000
Russell Cook / Luke Webster
Biddicks		T: 020 7448 1000
Katie Tzouliadis

 

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