1st Nov 2007 07:01
UMECO PLC01 November 2007 1 November 2007 Umeco plc Extension of contract with Rolls-Royce plc Umeco plc ("Umeco"), an international provider of supply chain services andadvanced composite materials to the aerospace & defence and automotiveindustries, is pleased to announce that its Pattonair business in Derby hassigned a significant extension to its long term supply chain contract withRolls-Royce plc. The new contract will take effect immediately, and will be managed fromPattonair's new £7.0 million facility being built in Derby, which is expected tocome on stream in December 2007. This facility complements Pattonair's existingoperations in Derby, which will be retained to service the Company's growingbusiness with Goodrich Actuation Systems. As a part of the new agreement, the contract timeframe has also been extended bya further five years. Originally signed for an eleven year term ending inDecember 2010, it will now run until December 2015. Umeco will fund the required additional working capital and capital expenditurefrom its existing banking facilities. Clive Snowdon, Chief Executive of Umeco, said: "We are delighted to announce this extension of our relationship withRolls-Royce, a highly significant development for our Supply Chain business.Through our dedicated new facility in Derby, we will be providing Rolls-Roycewith a much broader range of services, helping them to meet the growing demandfor their aerospace engine range and to enhance further their aftermarketcustomer service. "Under the new contract, our volumes with Rolls-Royce have potential tosignificantly grow and broaden. "As well as the considerable financial benefits, it illustrates both the qualityof service that we have delivered to this major customer over many years, andthe continued scope for supply chain support services growth in the aerospacemanufacturing sector." - Ends - For further information, please contact: Umeco plc Tel: 01926 331800 Clive Snowdon, Chief Executive Douglas Robertson, Group Financial Director Hogarth Partnership Ltd Tel: 020 7357 9477 John Olsen / Barnaby Fry Umeco plc Umeco is a leading innovator in distribution and supply chain management to theaerospace and defence industries, harnessing new methods for enhancing itscustomers' performance and profitability. Umeco also has significant manufacturing interests in advanced compositematerials for a growing range of applications in its core aerospace and defencemarkets and in other high performance technology industries such as motor sport,automotive and wind energy. Listed on the London Stock Exchange, Umeco had turnover of £333.9 million in theyear to 31 March 2007. Following completion of the recently announced disposal of its Repair andOverhaul business, Umeco will be managed through two divisions:- Umeco Supply Chain - a leading international provider of value-addeddistribution and supply chain outsourcing services to customers in the aerospace& defence market. With its specialisation in the supply of small components andsophisticated IT systems, its growing global customer base can enjoy significantoperational, cost and working capital benefits. Customers include Rolls-Royce plc, BAE SYSTEMS, Safran Group, Parker Aerospace,Goodrich, Bombardier, Lockheed Martin and the US Department of Defense. Umeco Composites - a provider of a complete range of advanced compositematerials and specialist chemical products principally to the aerospace,motorsport, automotive and wind energy markets. A growing range of value-addedoutsourcing services is provided to major customers. Customers include Boeing, Airbus, BAE SYSTEMS, Goodrich Aerostructures, BritishAirways, Lufthansa Technik, a number of manufacturers of high performance supercars and Formula 1 teams including Team McLaren Mercedes. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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