US expansion ahead of plan

10 July 2019

Tricorn Group Plc 

("Tricorn", the "Company" or the "Group")

Tricorn US expansion ahead of plan

Tricorn Group plc (AIM: TCN.L), the tube manipulation specialist, announced on May 14 2019 that it had extended its capabilities and facilities in the USA with the purchase of a powder coating and wet spraying line and securing an initial 5 year lease on 47,000 square feet within a large facility with options to extend for a further 5 years and on a further 50,000 square feet of space within the building.

This facility and the associated paint line are fully operational, well ahead of the expected end of July 2019 timing previously indicated.

Mike Welburn, Group Chief Executive of Tricorn, commented: "Our USA team has done a great job of getting the facility up and running well ahead of plan. We have approval from our key customers to ship parts from the facility and are already seeing some of the benefits of moving the pre-treatment and painting of assemblies in-house. The manufacturing floor space secured also provides for the intended expansion of our capacity and a broadening of our product offering in the USA."

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Notes to Editors:

Tricorn is a value-added manufacturer and specialist manipulator of pipe and tubing assemblies to niche markets worldwide in the Energy and Transportation sectors.

Headquartered in Malvern, UK, Tricorn employs around 300 employees and has four manufacturing facilities in China, USA and UK.