TRBO Turbotec Unres

TIDMTRBO

RNS Number : 0165D

Turbotec Products PLC

16 March 2011

 
 Press Release   16 March 2011 
 

Turbotec Products Plc

("Turbotec" or "the Company")

Trading Update

Turbotec Products Plc (TRBO.L), the designer and manufacturer of high performance, high quality heat exchangers and Tru-Twist(R) heat transfer tubing, today announces the following trading update in advance of its year ending 31 March 2011.

The Company expects results for the year to 31 March 2011 to be slightly ahead of market expectations. In the past five months, the Company has seen growth in unit sales volumes as well as increased selling prices arising from higher raw material costs, which have been passed on to customers in line with agreed contracts.

These results have been achieved despite the costs relating to the Company's move to its new manufacturing facility in Hickory, North Carolina. Looking forward, the Company expects increased pricing pressure due to signs of growing competition in the market.

The Company also announces that Robert Lowe has been confirmed as Non-Executive Chairman as of 24 February 2011.

- Ends -

For further information please contact:

 
 Turbotec Products Plc 
 Rob Lowe, Non-Executive Chairman   Tel: +44 (0) 7917 148930 
 
 
 Sunil Raina, Managing Director         Tel: +1 (860) 731 4200 
  SRaina@turbotecproducts.com 
 Robert Lieberman, Finance Director   www.turbotecproducts.com 
  RLieberman@turbotecproducts.com 
 
 
 Evolution Securities Limited 
 Joanne Lake / Peter Steel        Tel: +44 (0) 113 243 1619 
  joanne.lake@evosecurities.com 
 

Media enquiries:

 
 Abchurch Communications 
 Sarah Hollins / Simone Elviss / Oliver   Tel: +44 (0)20 7398 7714 
  Hibberd                                   www.abchurch-group.com 
  oliver.hibberd@abchurch-group.com 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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