14th Aug 2007 11:55
Castings PLC14 August 2007 Castings plc The following statement will be made at the Annual General Meeting to be heldthis afternoon: Interim Management Statement Turnover for the first four months of this financial year is up by 15% comparedto this time last year. The board has decided to increase foundry capacity by building a furthermoulding plant at our William Lee factory. This development is subject toplanning applications and availability of electrical supply. It is expected theproject will be complete late 2008 or early 2009. We are also re-opening our Fradley Park machine shop for additional machiningcapacity as CNC Speedwell's turnover continues to increase. Material costs continue to be volatile with prices increasing overall andalthough energy prices are reducing we still have to see out our currentcontract until October. Other areas of cost containment are being addressed withthe overall effect enabling us to maintain our margins in the first quarter. BRIAN J COOKEChairmanCastings plc. Lichfield Road, Brownhills, West Midlands WS8 6JZ 14th August 2007 This information is provided by RNS The company news service from the London Stock Exchange