AGM Statement
June 26 2007 - 3:02AM
UK Regulatory
RNS Number:9999Y
Amiad Filtration Systems Ltd
26 June 2007
26 June 2007
Amiad Filtration Systems Ltd.
AGM statement
Amiad Filtration Systems Ltd. ("Amiad" or "the Company"), a producer and
supplier of water filters and filtration systems for the industrial, municipal
and the irrigation markets, will today provide the following trading statement
at its annual general meeting:
"Global investment in water filtration and treatment systems continues to
increase, driven by tightening environmental and public health standards as well
as rising demand for clean water, a scarce resource.
The strong finish to 2006 has continued into the first half of this year leading
to stronger trading in substantially all parts of the business compared with the
corresponding period last year.
Order levels at the industrial & municipal segment have been good across all
major territories. The Company's thread filters are seeing increased interest
and it also continues to make steady progress in desalination field and
filtration of seawater for industrial use. In May, the Company supplied its
automatic filters to one of Scandinavia's largest Oil & Gas companies for
mounted filtration solution to be used for oil drilling rig in the North Sea. It
was also asked to supply a desalination system to convert sea water to potable
water for Davis Research station in Antarctica. Additionally, trading conditions
in the agricultural side have improved considerably after experiencing a
downturn last year. As a result, revenues are expected to be around 15 per cent.
higher for the first half of 2007 compared with the equivalent period last year.
Looking ahead, the Company is expecting to enter the second half with an order
backlog much higher than last year and also better than management expectations
at the time of the full year results announcement on 26 March 2007, which gives
the Company the confidence of achieving double digit growth in the second half
compared with the equivalent period last year.
With global investment in the world's clean water infrastructure set to rise
over the long term, Amiad plans to increase its involvement in delivering
complete turnkey water treatment systems and the Company's board looks forward
to the future with confidence.".
Enquiries:
Amiad Filtration Systems Ltd.
Avi Heifetz, Chairman +972 4 690 9500
Itamar Eder, Chief Financial Officer
Corfin Communications
Harry Chathli, Neil Thapar + 44 20 7929 8989
This information is provided by RNS
The company news service from the London Stock Exchange
END
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