HNN Norman Hay

 

TIDMHNN 
 
RNS Number : 1346O 
Norman Hay PLC 
23 June 2010 
 

 
 
23 June 2010 
 
 
Norman Hay plc 
 
 
AGM Statement 
 
Norman Hay plc ("Norman Hay" or "The Group"), the specialist chemicals and 
systems group, today announces the result of its sixty fourth Annual General 
Meeting. 
 
Anthony Hay, who had retired by rotation and offered himself for re-election to 
the Board at today's annual general meeting, has now withdrawn that offer. He 
has decided to stand down from the Board and therefore he will not be standing 
for re-election. 
 
Peter Hay, Chairman of Norman Hay, commented: 
 
"I would like to pay a huge tribute to Anthony's many years of sterling service 
to Norman Hay. He joined the company as Sales & Marketing Director in 1963. From 
1984 until 1993 he served as Chairman and since then he has been a Non-Executive 
Director and Chairman of the Audit and Remuneration committees. Norman Hay has 
benefited from his enthusiasm and wise counsel over many years and we are 
delighted that Anthony has agreed to act as a consultant to company after he 
steps down from the Board." 
 
 
 
Update on current trading 
 
Trading in 2010 has broadly improved, building upon the momentum that was 
gathering  across the group during the second half of 2009. 
 
Our automotive sealants business has in particular built upon the improvement 
seen in the second half of 2009, as global automotive manufacturing returns to 
pre-2009 levels. Demand from North America and the Asia-Pacific region has been 
particularly strong. However, we still remain cautious as to whether this upturn 
is sustainable in the longer term. 
 
Our UK-based surface coatings operations have experienced mixed trading 
conditions in recent months. Those operations focused on oil and gas have 
continued to see declining revenues, although turnover at our zinc and alloy 
electroplating site based in Coventry has improved on 2009. The overseas surface 
coating operations have performed well, particularly Perth and ASTEC Dalian in 
China. The management restructure that we undertook last year in Perth has led 
to renewed focus and, consequently, substantially improved results. 
 
The strong order book for our engineering business has meant a much improved 
result compared with the comparable period in 2009, as we continue to work on 
large overseas contracts. We have also gained new orders in 2010, and have 
received further enquiries this year for other major plant installations. 
 
In April, we announced a partnership between TAM International, our construction 
chemicals division, and Normet, a global equipment manufacturer and distributor. 
Although these are still early days in our partnership, a strong working 
relationship has been developed in a very short space of time, creating 
opportunities both for TAM and Normet's complementary businesses. We are 
confident that this relationship will continue to go from strength to strength. 
 
Diversification into international growth markets has served the Group well in 
recent months, although continued challenging economic conditions in Europe and 
more particularly the UK mean that we remain cautious in our outlook. 
 
 
-   ENDS - 
 
Enquiries to: 
 
Vic Bellanti and Nick Ogden 
 
Norman Hay plc 
Tel: +44 (0)24 7622 9373 
 
David Haggie and Juliet Tilley 
Haggie Financial 
Tel: +44 (0)20 7417 8989 
 
 
 
About Norman Hay plc 
 
Norman Hay plc is a global chemicals, sealant, surface coatings and engineering 
specialist with over 60 years of trading history. It operates globally in five 
continents and is headquartered in Coventry, UK. The Group has four main 
subsidiaries: "Ultraseal" - automotive sealants; "Armourcote" - surface 
coatings; "TAM International" - construction chemicals; and "Norman Hay 
Engineering" - bespoke process plants. Norman Hay plc is listed on AIM under the 
ticker symbol HNN. 
 
For more information see www.normanhay.com 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 AGMFMGZVFFLGGZM 
 

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