Gooch & Housego PLC
14 February 2007
For Immediate Release 14 February 2007
Gooch & Housego PLC
(The 'Company')
Progress Update for the Annual General Meeting
Gooch and Housego PLC, the specialist manufacturer of acousto-optic and
electro-optic devices, precision optical components, crystals, instruments for
measuring optical radiation and hyperspectral imaging systems, today announces a
progress up-date.
Market conditions have continued to be favourable and trading for the first four
months of the year is at expected levels.
The reorganisation of our optoelectronic materials and components businesses is
progressing well and is on target to be completed by the end of the financial
year. Internal changes to business processes, IT systems and management
structure are currently being implemented and will yield improved efficiency.
Additionally, by operating as a unified and re-branded business, we are
establishing greater market presence that is allowing us to support our
customers more effectively. Overall, the objective is to create a structure
capable of sustaining growth, both organically and by acquisition.
ChromoDynamics Inc is on target to launch its first product, a spectral imaging
system for use in microscopy, in the second quarter of the year. It will find
applications in biomedical research in commercial laboratories, hospitals and
universities. In parallel, the company is continuing to investigate applications
of the system in medical diagnostics for the early detection of disease.
The first phase of the new factory development in Ilminster, UK, comprising
renovation work, flood defences and demolition work, has been completed. Work on
the final phase, construction of a new purpose built manufacturing facility, has
commenced and all UK manufacturing and corporate activities will be relocated to
the new facility by the end of 2007. The sale of the existing premises in
Ilminster has been agreed and contracts exchanged.
In summary, Gooch & Housego is where it expected to be at this point in the
year.
For further information, please contact:
Gareth Jones, Chief Executive Officer 01460 52271
Buchanan Communication Ltd
Tim Thompson/Susanna Gale 020 7466 5000
Oriel Securities Limited
Andrew Edwards 020 7710 7600
This information is provided by RNS
The company news service from the London Stock Exchange
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