MRX Metalrax Group

TIDMMRX

RNS Number : 8560I

Metalrax Group PLC

31 July 2012

Contract Loss

Metalrax Group PLC ("Metalrax" or "the Group"), the niche supplier of specialist engineering and consumer durable products, announces that it has been informed that the Morrisons supermarket group ("Morrisons") will not be renewing its supply agreement with the Group's Consumer Durables division.

The agreement relates to the ongoing supply by George Wilkinson of bakeware to Morrisons, although George Wilkinson will continue to supply certain seasonal bakeware to Morrisons.

The Morrisons supply agreement represents approximately 3 per cent of annual Group revenue.

Chief Executive, Andrew Richardson commented:

"We are obviously disappointed to have lost this significant customer, which we tried very hard to keep. We will now concentrate our efforts on replacing the volume lost with new business whilst maximising our capacity utilisation."

Enquiries:

 
                                           +44 (0) 845 030 
 Metalrax Group PLC                         3300 
 Andrew Richardson, Chief Executive 
 Caroline Green, Group Finance Director 
 
 Arden Partners plc 
                                           +44 (0) 121 423 
 Steve Douglas                              8943 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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