1st Sep 2009 07:00
1 September 2009 Umeco plc ("Umeco") Retirement of Brian McGowan as Chairman
Following the announcement on 2 June 2009 of Brian McGowan's intention to retire as Chairman, Umeco confirms that Brian McGowan retired on 31 August 2009. David Porter, Senior Independent Director, has been appointed Interim Chairman.
The Nomination Committee, chaired by David Porter, is conducting the selection process for a suitable successor. An announcement regarding a new Chairman will be made in due course.
For further information please contact:
Umeco plc Tel: +44 (0) 1926 331 800Clive Snowdon, Chief ExecutiveDoug Robertson, Finance Directorwww.umeco.comTulchan Communications Tel: +44 (0) 207 353 4200John Sunnucks
Further Information on Umeco plc Umeco is a leading innovator in distribution and supply chain management to the aerospace and defence industries, harnessing new methods for enhancing its customers' performance and profitability.
Umeco also has significant manufacturing interests in advanced composite materials for a growing range of applications in its core aerospace and defence markets and in other high performance technology industries such as motor sport, automotive and wind energy.
Listed on the London Stock Exchange, Umeco had revenue from continuing operations of GBP415.3 million in the year to 31 March 2009.
Umeco is managed through two business streams:-
Umeco Composites - a provider of a complete range of advanced composite materials principally to the aerospace, motor sport, automotive and wind energy markets.
Customers include Boeing, Airbus, BAE Systems, manufacturers of wind turbine blades, a number of manufacturers of high performance super cars and Formula 1 teams including Team McLaren Mercedes.
Umeco Supply Chain - a leading international provider of value-added distribution and supply chain outsourcing services to customers in the aerospace & defence market. With its specialisation in the supply of small and medium value components and sophisticated IT systems, its growing global customer base can enjoy significant operational, cost and working capital benefits.
Customers include Rolls-Royce plc, BAE Systems, Safran Group, Parker Aerospace, Goodrich, Thales Aerospace, Turbomeca, ATK, Lockheed Martin and the US Department of Defense.
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