3rd Oct 2005 07:00
TT electronics PLC03 October 2005 TT electronics plc At the recent announcement of the interim results it was stated that the group'sEuropean based climate control business had had a difficult first half year andthat it was intended to rationalise operations. The group has commenced this restructuring process at its French business and isworking within the local regulatory procedures. This process is likely to beconcluded during the first half of 2006 following which the group will eliminatethese losses. John Newman, Executive Chairman, said today: "In line with our strategy TT electronics continues to rationalise loss makingbusinesses and exit non-core operations. This year we have already closed thepower cables division located at Gravesend, reduced activities at PrestwickCircuits Limited our Scottish based printed circuit board plant and sold ourground power business Houchin Ltd. This restructuring is a further example ofmanagement action being taken to enhance group profitability." Enquiries: Biddicks Tel: 020 7448 1000Zoe Biddick This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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