Castings PLC AGM Statement (6547X)
14 August 2018 - 4:00PM
UK Regulatory
TIDMCGS
RNS Number : 6547X
Castings PLC
14 August 2018
Castings plc
Interim Management Statement and AGM
Castings plc will be holding its Annual General Meeting this
afternoon at The Fairlawns Hotel and Spa and at the meeting the
Chairman, Brian Cooke, will make the following statement.
Demand from our main customers' remains strong which represents
a continuation of the outlook reported in the Chairman's statement
in June.
The new management team continue to progress the turnaround
project at CNC Speedwell. Whilst we still expect the trading
results of the machining business to improve during the second
half, the level of reorganisation is such that we do not foresee it
returning to profitability during this financial year. As part of
the reorganisation, we are closing the Fradley site and
consolidating the machining business to operate from the newly
built facility at Brownhills.
Our investment remains focused on production techniques and
technologies to improve our productivity and profitability.
B.J.Cooke, Chairman
Castings plc, Lichfield Road, Brownhills, West Midlands WS8
6JZ
14(th) August 2018
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END
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