17th May 2006 12:22
TT electronics PLC17 May 2006 TT ELECTRONICS PLC AGM STATEMENT All resolutions before the Annual General Meeting of TT electronics plc wereduly passed. Speaking at the meeting, John Newman, Executive Chairman of TT electronics,commented on current trading: "TT electronics has made a strong start to the year with good performancesacross the group. In the electronic sector passive component orders are up bymore than 15% against the first quarter of 2005 and we have won orders fromimportant new and existing automotive customers for our Autopad inductive sensortechnology. The electrical sector has won new orders from the defence industry,including cables for the T45 destroyers and the Astute submarine. There has beengood progress on the £10 million order for power generation equipment forCentral America. "Our acquisition in China, which was completed a few weeks before last year'sAGM, continues to perform ahead of our expectations. It had been a key strategicobjective to establish our own manufacturing operation in China and provideproducts from this factory to other TT electronics businesses". "The investment we have made in sensor technology is now poised to generate goodreturns. Autopad technology has enabled us to maintain our position at theleading edge of sensor technology and to broaden our product range. Weanticipate delivery of the first of our inductive products later this year andhave already taken orders for Autopad products worth in excess of £100 million. "I look forward to the remainder of 2006 with confidence and, on the strength ofour current order book, anticipate continued progress in 2007." For further information please contact: TT electronics plcJohn W Newman, Executive Chairman: Tel: 01932 856 647 BiddicksZoe Biddick: Tel: 020 7448 1000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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