Business
AGM Trading Update
AGM Trading Update.
About this update from Zotefoams Plc
[{"type":"text","content":"\n \nRNS Number : 5351Y Zotefoams PLC 18 May 2016 \n\n \nZOTEFOAMS plc\n(\"Zotefoams\" or \"the Company\")\n \nAGM Trading Update\n \n18 May 2016 - Zotefoams, a world leader in cellular material technology, is issuing this trading update for the first quarter ended 31 March 2016, ahead of its Annual General Meeting at 675 Mitcham Road, Croydon CR9 3AL at 10am. At this meeting Steve Good, Chairman of Zotefoams plc, will make the following statement:\n \n\"Sales for the first three months of the year were ahead of the record first quarter delivered in 2015. Activity levels are very high in both market development and investment projects, with additional resources invested to deliver the strong portfolio of opportunities for future growth. These opportunities utilise Zotefoams' unique technology in new ways, such as the foaming of complex three-dimensional shapes, or build on existing product and market knowledge and offer the possibility of developing completely new markets or applications. \n \nIn Walton, Kentucky, USA, the major investment in global manufacturing capacity is expected to be commissioned in the first half of 2017. This timetable is now linked to the delivery of the high-pressure autoclave which will add approximately 20% to Group capacity in this key process. Zotefoams Inc. has also placed an order for a second high-pressure autoclave to be delivered approximately six months after the first autoclave. The Board feels that the assurance given by having a second vessel available to add to global capacity at shorter notice is the right decision for this stage in the development of our business.\n \nWhile it is still early in the year and we are mindful of the potential impact of economic conditions we continue to expect 2016 to be another year of progress and remain confident about the long-term prospects of the business.\"\n \n- Ends -\n \n \nEnquiries:\n \n\n\n\n\nZotefoams plc \n\n\n+44 (0)208 664 1600\n\n\n\n\nDavid Stirling, Managing Director\n\n\n\n\n\n\n\nGary McGrath, Finance Director\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFTI Consulting \n\n\n+44 (0)203 727 1000\n\n\n\n\nVictoria Foster Mitchell / Simon Conway\n\n\n\n\n\n\n\n \nAbout Zotefoams plc\nZotefoams plc (LSE - ZTF) is a world leader in cellular material technolo...