Business
Annual General Meeting and Trading Update
Annual General Meeting and Trading Update.
About this update from James Cropper Plc
[{"type":"text","content":"\n \nRNS Number : 7130N Cropper(James) PLC 30 July 2014 \n \n\n \nEmbargoed until 11.00am\n30th July 2014\nJames Cropper PLC (\"James Cropper\" or the \"Company\")\n \nAnnual General Meeting and Trading Update\n \nAt the Company's AGM held at 11.00am today, Mark Cropper, Chairman, made the following statement:\n \n\"I am pleased to report that the Group has traded profitably in the first quarter of the new financial year with Profit before Tax in line with management expectations and the comparable period last year\".\n \n\"Implementation of our plans to restructure management in order to bring about greater customer and operational synergies is well advanced. Within the new James Cropper Paper Products division (incorporating Speciality Papers and Converting) the merged commercial teams are being re-organised to enable each regional sales leader to market the full range of the paper portfolio, aiding the acceleration of global sales. As regards manufacturing operations, until now, each business has operated separately and focused on its own activities. Consequently it has not been possible to take full advantage of the efficiencies available by co-ordinating operations across the Group. The manufacturing operations are now run as one group and the re-shaping of management responsibilities for manufacturing operations will be completed during the course of the current financial year.\"\n \n\"Some recent developments in Technical Fibre Products (\"TFP\"), Paper Products and our Technology & Innovation Directorate have been very encouraging.\"\n \n\"I am pleased to report that TFP's presence in the Aerospace market continues to grow. TFP and AGC AeroComposites have collaborated in the joint development of electrostatic and lightning compatible composite pipes suitable for use in aircraft fuel systems. The development is the first of its kind and presents the opportunity to save weight in aircraft fuel systems by replacing the heavier metallic equivalents currently used. It is estimated that a weight saving of up to 200 kg per aircraft could be achieved, potentially equating to an estimated fuel saving of up to 26,000 kg per aircraft per annum. This new development was launched at the Farnborough International Airshow earlier this month\". \n \n\"Paper Products' new Chinese subsidia...