Trading Statement

Rotork PLC 20 November 2002 20 November 2002 Rotork p.l.c. Disposal of Business and Trading Update Rotork p.l.c., the specialist engineering group, announces the sale of certain non-core business and assets, excluding freehold property, of Rotork Control & Safety Limited, a mission critical control and safety systems business to Serck Control and Safety Limited, a subsidiary of Serck Controls Limited Pty, of New South Wales, Australia. The value of net assets disposed of is £1,284,000, including book debts. Commenting on the sale, Bill Whiteley, Chief Executive of Rotork p.l.c. said: 'The sale of the Rotork Control & Safety business, excludes the PAKSCAN actuator control systems products, which are retained exclusively by Rotork. It represents the final disposal of non-core legacy businesses and assets of the Rotork group. The sale of the Rotork Control & Safety business leaves Rotork entirely focused on developing, both organically and by acquisition, its actuator, systems and related products, using its own worldwide sales and distribution network. As I indicated in my review in our 2001 Annual Report, the new management team introduced to Rotork Control & Safety in 1999 has redefined that business. They leave to join a larger specialist controls group with our best wishes and thanks.' In light of the Company's forthcoming meetings with Institutional Shareholders, the Company, in its desire to keep the market informed, is commenting on recent trading. In future years we intend to provide a regular trading update in this part of the year in addition to those provided following our final and interim results and at our Annual General Meeting. Following the interim results announced in early August, overall sales growth has been slightly below the Company's expectations. Within the product mix, the lower margin Fluid Power sales have continued to grow somewhat faster than the higher margin Electric Actuator sales. The Group order book at the end of October was 11% ahead of last year-end's figures after adjusting for the removal of the order book of the Control & Safety business. The major new product and cost reduction programmes continue to be on target. - Ends - Further information: Bill Whiteley, Chief Executive Rotork p.l.c. Tel. 01225 733 200 Peter Otero Financial Dynamics Tel. 020 7269 7273 This information is provided by RNS The company news service from the London Stock Exchange

Companies

Rotork (ROR)
UK 100

Latest directors dealings