Information  X 
Enter a valid email address

Wescol Group PLC (WCL)

  Print      Mail a friend

Thursday 02 December, 1999

Wescol Group PLC

Chairman's AGM Statement

Wescol Group PLC
2 December 1999

                      Wescol Group plc
                        AGM Statement

At  today's  Annual General Meeting of Wescol Group  plc,  a
specialist  engineering company and  market  leader  in  the
supply  of  structural  steelwork, based  in  Halifax,  West
Yorkshire,  the  Chairman, Peter Price, made  the  following

Overall the group is well positioned for significant growth.

Enhanced fabricating facilities now provide the company with
additional  productive  capacity, and  material  prices  are
firmly  under control.  The board is confident of  achieving
satisfactory  progress in the current year,  notwithstanding
some   short   term  additional  costs  arising   from   the
implementation  of the new steel purchasing  agreement  with

I would like to note in particular the following:

* Westok,  manufacturer  of  the group's  patented  cellular
  beam,  is currently working its factories 24 hours a  day,
  6  days  a  week to fulfill the demands of  a  full  order

* Salzgitter  AG  of  Germany  has  acquired  26.2%  of  the
  company's existing equity at 53 pence per share.

* Salzgitter  is  Germany's second largest  steel  producer,
  and is a major supplier of steel to the group.

Salzgitter's  investment confirms their  confidence  in  the
group's   prospects  and  will  enhance  Wescol's   European
prospects and facilitate increased market penetration.

In  the longer term the group has laid down a solid platform
for  future  development, in particular the new  links  with
Salzgitter  which  bring with them  the  potential  for  co-
operation  on  a broad basis in the much larger  markets  of
continental Europe, giving the group opportunities for major

The company looks forward to the future with confidence.


Wescol Group plc                    Tel No: 01422 319500
Stephen Brown, Financial Director   Mobile: 07970 234 939

College Hill                        Tel No: 0171 457 2020
Michael Padley


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