Business
AGM Announcement
AGM Announcement.
About this update from Lpa Group Plc
[{"type":"text","content":"\n LPA Group PLC\n08 March 2006\n\n\nLPA Group Plc ('the Group')\n\n\n8th March 2006\n\n\nAGM Announcement\n\n\nAt the Annual General Meeting of LPA Group PLC, held today, all resolutions were\npassed.\n\n\nMichael Rusch, Chairman, commented;\n\nAs I stated in the Annual Report, the start to the new financial year has been\ndisappointing, and this will be reflected in the first half. However, the group\nenjoyed excellent order receipts during February, which, together with a number\nof near term opportunities, should deliver a recovery in the second half.\n\nAt last year's Annual General Meeting we set out our 'Rail Market Strategy'.\nThis strategy was necessitated by the fact that there are now very few major\nBritish rolling stock manufacturers in the UK, and the presence of overseas\nrolling stock manufacturers in the UK, 'on the ground', was diminishing.\n\nThe intended 'strategy' was not only to greatly enhance our relationships with\nthe French, German and Japanese rolling stock manufacturers, who currently\nsupply the requirements of the British market, but to do so on their home\nground. Since the last AGM LPA personnel have had an intensive presence in these\ncountries and the desired relationships have developed substantially\n\nHitachi, for instance, chose LPA for the lighting, including our new LED\ntechnology, of the Sentosa Monorail in Singapore - a small contract now\ncompleted. More importantly Hitachi has selected LPA as the designer and\nsupplier of the lighting system for the Channel Tunnel Rail Link (CTRL) rolling\nstock, which will operate between London and the major towns and cities in Kent.\n\nThis award means that, to varying degrees, all four major suppliers to the UK\nrail market, namely, ALSTOM, BOMBARDIER, SIEMENS and HITACHI are now trading\nwith us for supplies of LPA equipment for the UK market. The first strategy\nobjective has been achieved.\n\nThe second and third objectives are to impress these major companies\nsufficiently with our technical and commercial expertise, that they are\nencouraged to include us when tendering for their other export markets and,\neventually, their domestic market. I am pleased to report that we are making\nprogress in this objective as well. This process is already helping to rebuild\nour order book, which has nearly doubled over the past three years, and which is\...