TT electronics PLC
03 October 2005
TT electronics plc
At the recent announcement of the interim results it was stated that the group's
European based climate control business had had a difficult first half year and
that it was intended to rationalise operations.
The group has commenced this restructuring process at its French business and is
working within the local regulatory procedures. This process is likely to be
concluded during the first half of 2006 following which the group will eliminate
these losses.
John Newman, Executive Chairman, said today:
'In line with our strategy TT electronics continues to rationalise loss making
businesses and exit non-core operations. This year we have already closed the
power cables division located at Gravesend, reduced activities at Prestwick
Circuits Limited our Scottish based printed circuit board plant and sold our
ground power business Houchin Ltd. This restructuring is a further example of
management action being taken to enhance group profitability.'
Enquiries:
Biddicks Tel: 020 7448 1000
Zoe Biddick
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