30th Jun 2005 07:00
Elementis PLC30 June 2005 PRESS INFORMATION Elementis plc Trading Statement Thursday 30 June 2005: Elementis plc (LSE:ELM) today issues a trading update,ahead of its first-half results, which will be announced on 28 July 2005. Sales and operating profits have increased during the first half of 2005compared to the same period of last year, due, in part to the acquisition ofSasol Servo in the second half of 2004. The first half results were in linewith the company's expectations. Elementis Pigments has today announced a rationalisation of its manufacturingfacilities. The majority of the facilities at the East St. Louis pigments plantwill cease operation during the second half of the year and Elementis will takea one time charge of approximately £7 million in the first half to provide forthe costs of the rationalisation. Production will be transferred to othermanufacturing sites including the newly constructed facility in TaiCang, China.The company expects that these moves will result in an improvement in marginsfor its pigments business in 2006 when they will have been implemented fully. The recently reconstituted board of Elementis is reviewing the company'sstrategy and each of its operations. The company will provide an update of itsplans resulting from this process during the second half. - Ends - Further Enquiries: Elementis Tel +44 (0) 1784 227000 Geoff Gaywood - Chief ExecutiveBrian Taylorson - Finance DirectorHilary Reid Evans - Head of Corporate Communications Financial Dynamics Tel +44 (0) 20 7831 3113 Deborah Scott/Greg Quine This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Elementis