Major New Supply Agreement
July 28 2011 - 2:00AM
UK Regulatory
TIDMAPI
28 July 2011
API Group plc
(the "Group" or "API")
Major New Supply Agreement
After the recent trading update issued on 12 July 2011, API is pleased to
announce a further positive development at its Laminates business unit, which
has secured a significant new supply agreement with a major global consumer
goods company.
Under the five year agreement, the Group will invest GBP3-4m in new equipment and
capabilities for its Poynton facility, with supplies scheduled to commence from
early in API's next financial year (starting April 2012). Additional revenues
associated with the investment are expected to be in the range of GBP15m to GBP20m
per annum, providing a step change in the level and security of earnings in the
Laminates segment.
For further information, please call:
API Group plc Tel: +44 (0)1625 650334
Andrew Turner, Group Chief Executive
Chris Smith, Group Finance Director
Cairn Financial Advisers LLP Tel: +44 (0)20 7148 7901
Tony Rawlinson / Avi Robinson
Numis Corporate Broking Tel: +44 (0)20 7260 1000
James Serjeant
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: API Group PLC via Thomson Reuters ONE
[HUG#1534014]
Abrdn Property Income (LSE:API)
Historical Stock Chart
From Jun 2024 to Jul 2024
Abrdn Property Income (LSE:API)
Historical Stock Chart
From Jul 2023 to Jul 2024