1st Jul 2009 07:00
1 July 2009
Hampson and AIT to collaborate on tooling programme
Hampson Industries PLC ("Hampson" or "the Group"), the international aerospace and precision engineering group announces that its aerospace tooling division has agreed to collaborate with US-based Advanced Integration Technology, Inc. ("AIT") for the design, manufacture and supply of an advanced, integrated tooling and assembly suite for a new business jet programme.
The collaboration is expected to be worth up to USD30 million to Hampson over the next two years, with initial revenue commencing in the current financial year. No additional capital expenditure is required.
Hampson is world leader in the design and manufacture of close tolerance tooling systems for composite and metallic aero structures and airframe assembly. AIT is a leading engineering and manufacturing company specialising in the design and development of full turnkey aerospace factory automation systems and a leader in aerospace factory integration. AIT currently has several hundred automated aircraft positioning systems in service worldwide.
Hampson's Chief Executive, Kim Ward, commented: "We are delighted to be partnering with AIT on this prestigious project which will provide significant work share for our tooling businesses, underpinning our confidence in their long term growth potential. The collaboration will harness AIT's proven capabilities in factory design with our own unparalleled expertise in precision tooling design and manufacture.
"With approximately 600,000 square feet of dedicated manufacturing space and our recent and committed investment in new, high-speed machine tools, we are confident of securing further new work on both existing and new commercial and military programmes.
"Our recently enlarged capacity means we remain well positioned to continue to support our customers with innovative and high quality tooling solutions to meet some of the most demanding engineering challenges presented by the new generation of very closely toleranced, composite-rich airframes."
Ends.
Further information:
Kim Ward, Chief Executive +44 (0)1384 472941
Howard Kimberley, Finance Director +44 (0)1384 472946
Marylene Guernier/Ed Orlebar, M:Communications +44 (0)20 7153 1269/1523
About Hampson:
The Group's operations are structured into three business segments, serving primarily the global commercial and military aerospace and specialist engineering markets from manufacturing facilities in the UK, North America and India.
Approximately 93% of the Group's sales are derived from its aerospace activities, the balance from the market for automotive turbocharger components.
In June 2008, Hampson completed the acquisition of Odyssey Industries, Inc. and Global Tooling Systems, Inc. for a total consideration comprising initial and deferred elements of USD314 million. The Group employs approximately 2,100 people worldwide.
Hampson Industries PLC is listed on the main market of the London Stock Exchange (Symbol: HAMP). For more information on Hampson: www.hampsongroup.com
Cautionary Statement:
This announcement contains forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as anticipate, target, expect, estimate, intend, plan, goal, believe, will, may, should, would, could, is confident, or other words of similar meaning. Undue reliance should not be placed on any such statements because they speak only as at the date of this document and, by their very nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and Hampson's plans and objectives, to differ materially from those expressed or implied in the forward-looking statements.
There are a number of factors which could cause actual results to differ materially from those expressed or implied in forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are; increased competition, the loss of or damage to one or more key customer relationships, changes to customer ordering patterns, delays in obtaining customer approvals for engineering or price level changes, the failure of one or more key suppliers, the outcome of business or industry restructuring, the outcome of any litigation, changes in economic conditions, currency fluctuations, changes in interest and tax rates, changes in raw material or energy market prices, changes in laws, regulations or regulatory policies, developments in legal or public policy doctrines, technological developments, the failure to retain key management, or the key timing and success of future acquisition opportunities or major investment projects.
Hampson undertakes no obligation to revise or update any forward looking statement contained within this announcement, regardless of whether those statements are affected as a result of new information, future events or otherwise, save as required by law and regulations.
Related Shares:
HAMP.L