TON Titon Holdings Plc

TIDMTON

RNS Number : 2557K

Titon Holdings PLC

21 April 2020

21 April 2020

Titon Holdings Plc

Re-start of Limited Production at Haverhill

Titon Holdings Plc ("Titon", the "Group" or the "Company"), a leading international manufacturer and supplier of ventilation systems, and window and door hardware, makes a further statement on the COVID-19 pandemic.

Operational update

Further to the statement issued on 24 March 2020, Titon is pleased to announce that limited scale production will re-start at the Group's factory in Haverhill, Suffolk from today. This follows careful and detailed planning with the Group putting in place measures in the factory in accordance with the UK Government's guidelines on social distancing in the workplace to safeguard the health and safety of our employees.

Initially, production will predominantly be to satisfy existing orders from certain customers, who have maintained operations during the various lockdown regimes imposed across the world. Since the factory's temporary closure in March we have retained an ongoing dialogue with all of our customers and responded to their queries. At this time, we anticipate that the orders fulfilled will only represent a small proportion of our normal level of sales, but as and when restrictions are gradually withdrawn across the world and demand returns, Titon hopes to increase levels of production back to normalised levels.

At this stage, there have been no material changes to the Group's cash position or balance sheet since the Company's statement on 24 March 2020. The next scheduled reporting event is the Company's Interim Report for the six month period ended 31 March 2020, which is due to be published on 14 May 2020.

Keith Ritchie, Executive Chairman, commented:

"We are pleased to announce that we are re-starting our production operations from today and we look forward to meeting our customers' demands in the usual way. We will follow the Government's guidelines for safe working for our employees and remain focussed on preserving the Group's cash position and strong balance sheet whilst this period of uncertainty continues."

For further information please contact:

 
Titon Holdings Plc 
 Keith Ritchie                                  Tel: +44 (0) 7748 
                                                146834 
Shore Capital (Nominated Adviser and Broker)  Tel: +44 (0)20 7408 
 Edward Mansfield                              4090 
 Daniel Bush 
 
 

ENDS

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

TSTURRNRRBUSUAR

(END) Dow Jones Newswires

April 21, 2020 02:00 ET (06:00 GMT)

Grafico Azioni Titon (LSE:TON)
Storico
Da Mar 2024 a Apr 2024

Grafico Azioni Titon (LSE:TON)
Storico
Da Apr 2023 a Apr 2024