Business
Corporate Update and Board Change
Corporate Update and Board Change.
About this update from Time To Act Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\").\nTime To ACT plc / AQSE: TTA / Market: Aquis Stock Exchange Growth Market\n22 August 2024\nTime To ACT plc\n \n(\"Time To ACT\" or the \"Company\")\nCorporate Update and Board Change\nTime To ACT plc (AQSE: TTA), an engineering-led group focused on technology for the energy transition supply chain, is pleased to announce that it has launched a new strategic initiative designed to improve customer focus and enhance the penetration of new customer verticals. The initiative sees the separation of Diffusion Alloys, its principal trading business, into two distinct focus lines; Diffusion Alloys Coating Technology and Diffusion Alloys Coating Services.\n \nDiffusion Alloys Coating Technology (\"Coating Technology\")\nCoating Technology represents the business' strategic focus on selling technical excellence in coating capability supported by the concept of \"flexible capacity\". Flexible capacity is the business' ability to provide customers with capacity wherever they need that capacity to be, whether for the coating of large parts or for small parts, and includes the opportunity provided by Diffusion Alloys' proprietary new low-cost modular coating equipment which is currently under development.\n \nCoating Technology will include asset-light technology licensing, coating powder sales and technical consulting revenues and will grasp the opportunity coming from a strengthened customer dialogue in all end-market verticals. \nDiffusion Alloys Coating Services (\"Coating Services\")\nCoating Services is the new name for the Diffusion Alloys plant-led coatings business centred on its Middlesbrough site.\n \nBoard Change\nThe Company additionally announces that Lisa Randall has resigned as a non-executive director of the Company with immediate effect. She remains in her current role of Managing Director of Diffusion Alloys (UK) Limited. The Company has identified a new non-executive director, and a further announcement is expected in the near future.\nChris Heminway, Executive Chairman of Time To ACT plc commented: \"The evolution of Diffusion Alloys from its ...