Zotefoams PLC AGM Trading Update (5351Y)
May 18 2016 - 02:01AM
UK Regulatory
TIDMZTF
RNS Number : 5351Y
Zotefoams PLC
18 May 2016
ZOTEFOAMS plc
("Zotefoams" or "the Company")
AGM Trading Update
18 May 2016 - Zotefoams, a world leader in cellular material
technology, is issuing this trading update for the first quarter
ended 31 March 2016, ahead of its Annual General Meeting at 675
Mitcham Road, Croydon CR9 3AL at 10am. At this meeting Steve Good,
Chairman of Zotefoams plc, will make the following statement:
"Sales for the first three months of the year were ahead of the
record first quarter delivered in 2015. Activity levels are very
high in both market development and investment projects, with
additional resources invested to deliver the strong portfolio of
opportunities for future growth. These opportunities utilise
Zotefoams' unique technology in new ways, such as the foaming of
complex three-dimensional shapes, or build on existing product and
market knowledge and offer the possibility of developing completely
new markets or applications.
In Walton, Kentucky, USA, the major investment in global
manufacturing capacity is expected to be commissioned in the first
half of 2017. This timetable is now linked to the delivery of the
high-pressure autoclave which will add approximately 20% to Group
capacity in this key process. Zotefoams Inc. has also placed an
order for a second high-pressure autoclave to be delivered
approximately six months after the first autoclave. The Board feels
that the assurance given by having a second vessel available to add
to global capacity at shorter notice is the right decision for this
stage in the development of our business.
While it is still early in the year and we are mindful of the
potential impact of economic conditions we continue to expect 2016
to be another year of progress and remain confident about the
long-term prospects of the business."
- Ends -
Enquiries:
Zotefoams plc +44 (0)208 664 1600
David Stirling, Managing
Director
Gary McGrath, Finance
Director
FTI Consulting +44 (0)203 727 1000
Victoria Foster Mitchell
/ Simon Conway
About Zotefoams plc
Zotefoams plc (LSE - ZTF) is a world leader in cellular material
technology. Using a unique manufacturing process with
environmentally friendly nitrogen expansion, Zotefoams produces
lightweight foams under the family brand names AZOTE(R) and
ZOTEK(R) in Croydon, UK and Kentucky, USA for diverse markets
worldwide through its global sales force. Zotefoams also owns and
licenses patented MuCell(R) microcellular foam technology from a
base in Massachusetts, USA to customers worldwide and sells
T-FIT(R) advanced insulation systems made from its patented
ZOTEK(R) fluoropolymer foams.
AZOTE(R), T-FIT(R) and ZOTEK(R) are registered trademarks of
Zotefoams plc. T-TUBES(R) is a registered trademark of UFP
Technologies Inc. MuCell(R) is a registered trademark of Trexel
Inc, licensed exclusively to MuCell Extrusion LLC for use in
microcellular foaming of extrusion products.
www.zotefoams.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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