Universal Salvage PLC
5 September 2001
UNIVERSAL SALVAGE PLC
Alexander Foster, chairman of Universal Salvage plc, speaking at the company's
AGM today, said,
'The group has made a good start to the new financial year, with the first
quarter trading performance in line with expectations.
A major focus of our activities continues to be the installation of vehicle
processing units across our sites in preparation for the European Union End of
Life Vehicle legislation, which takes effect in the Spring of 2002. This major
capital investment project is progressing and over the medium term, we believe
that the legislation will represent a significant business opportunity for the
I am also pleased to report on the continuing progress we are making in
extending the range of services we provide to our two key customer bases, the
vehicle suppliers and auction bidders. As we improve our service offering, we
believe the scope to increase our core business remains excellent.
Against this background, the board remains confident about the group's growth
prospects and I look forward to updating shareholders at the half year.'
Universal Salvage plc
Martin Hynes, Chief Executive T: 020 7448 1000 on 5 September
Thereafter on 01234 766500
Katie Tzouliadis T: 020 7448 1000