Information  X 
Enter a valid email address

Alumasc Group Plc (ALU)

  Print          Annual reports

Thursday 21 October, 1999

Alumasc Group Plc

Restructuring to Enhance Competition & Development

ALUMASC GROUP PLC
21 October 1999

                               
               Annual General Meeting and Update
                               
Alumasc,  the  high  specification  engineering  and  building
products group, held its Annual General Meeting earlier  today
in London.

Commenting  on current developments and trading, John  McCall,
Chairman and Chief Executive, said:

'In the Annual Report, I reported on the considerable progress
the Board has made in implementing its strategy to restructure
the  Group  into  a smaller number of strong  businesses  with
their  focus  on  premium engineering and  building  products.
Since  that  report, we have made further  progress  with  the
disposal of Arnold Plastics for approximately £0.85 million in
September  and  we are now close to finalising agreements  for
the  sale  of  Thermex  Industries  and  Crew  Stainless;  the
financial  impact  of all these disposals is  expected  to  be
within  the provisions included in the accounts for  the  year
ended 30 June 1999.

This  restructuring enhances our ability  to  compete  and  to
develop in our chosen markets where trading conditions  remain
much  as  they were at the time of publication of  our  Annual
Report  last  month.   We continue to  believe  that  we  have
established a sound and profitable base upon which to build  a
successful future.'

At  the Annual General Meeting, all the Resolutions, including
the  authority for Alumasc to acquire up to 10 per cent of its
issued  share  capital,  were put  to  shareholders  and  duly
passed.

Enquiries:

The Alumasc Group plc                             01536-383844
  John McCall (Chairman and Chief Executive)

Bankside Consultants Limited                     0171-220 7477
  Charles Ponsonby

a d v e r t i s e m e n t