25th May 2006 15:10
KBC Advanced Technologies plc25 May 2006 25 May 2006 KBC ADVANCED TECHNOLOGIES PLC ("KBC" or "the Company") Management Appointments At the AGM held at 3.00 pm on 25 May 2006 the Chairman, ChristopherPowell-Smith, made the following statement: "Further to the announcement made at the time of the preliminary results on 23March 2006 regarding Peter Close's planned retirement, we are pleased toannounce that with effect from today George Bright (previously Chief OperatingOfficer) has been appointed Chief Executive Officer. Nicholas Stone, FinanceDirector will, with effect from today, additionally take on the role ofOperations Director. Peter Close will remain on the Board until his retirementon 30 September 2006 and will focus on sales to major customers. George Bright has extensive experience of the business and its markets, havingjoined KBC to establish our Reliability and Maintenance business in 1998. Sincethat time, in addition to his other roles, he has also had primaryresponsibility for acquisitions including Linnhoff-March, PEL and, mostrecently, TTS. Mr Bright was appointed Chief Operating Officer in October 2003and joined the KBC Board in March 2004. These changes in management responsibilities are designed to accelerate theimprovements in financial and operational performance which the Group reportedat the full year. I am delighted to report that the revenue growth achieved in 2005 has continuedinto 2006. Revenue has now grown for three consecutive quarters and is on targetto increase further in the second quarter of this year. This puts the businesson track in the first half to deliver a modest trading profit which represents avery significant improvement over the prior year period's material trading loss.As a result, we remain confident that the business will continue to grow during2006 in line with market expectations." - ends - For enquiries please contact: KBC Advanced Technologies plc 01932 236314George Bright, Chief Executive OfficerNicholas Stone, Operations and Finance Director Weber Shandwick Square Mile 020 7067 0700James Chandler/Lana-Kathryn Pugh Notes to Editors: About KBC Advanced Technologies plcKBC Advanced Technologies plc, a leading independent consulting and process engineering group, delivers improved operating performance to the oil refining,petrochemical, and other process industries worldwide. KBC provides process consulting, strategic planning advice, energy price forecasting and market analysis, economic studies, and capital project services to help clients achievetheir business objectives and improve their competitive position. KBC analyses plant operations and management systems, recommends changes for material and measurable improvements in profitability, and provides implementation services and solutions to assist clients in realising these improvements. In carrying outthis work KBC makes extensive use of Petro-SIMTM, its proprietary refinery-wide simulation and process modelling technology. Formed in 1979, KBC has offices inthe UK, USA, Canada, Singapore, the Netherlands, Russia, China, and Japan. For more information, visit www.kbcat.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
KBC.L