Re Contracts
Bodycote International PLC
19 January 2001
Friday, 19th January 2001
PRESS RELEASE
Bodycote concludes important contracts
Bodycote International plc, the international metallurgical processing group
announces that Bodycote Materials Testing Group Limited has secured two
important contracts.
PCC Structurals Inc.
Bodycote Materials Testing, Inc., its U.S. division, and PCC Structurals,
Inc., part of the Precision Castparts Corp., one of the largest investment
castings suppliers to the aerospace market, have entered into a 10-year
laboratory outsourcing contract, estimated to be worth $20m over 10 years.
This is a further significant laboratory outsourcing development for Bodycote
Materials Testing and follows on from long-term agreements struck earlier in
the year with major UK clients and the conclusion of similar agreements in
Canada. The scope for further laboratory outsourcing is substantial, and
Bodycote is well positioned to capitalise on these opportunities. The Group
is engaged in discussions with other interested parties in the UK, Europe and
North America and hopes to see further progress in 2001.
Bodycote Polymer AB in strategic collaboration with Chinese National
laboratory
Bodycote Polymer AB has signed a collaborative agreement with the China
National Centre for Quality Supervision and Test of Plastic Products (NTSQP)
at a ceremony in Beijing on November 24, 2000 attended by 150 representatives
of the Chinese plastics industry, the China Bureau of Quality and Technical
Supervision (CSBTS), and the Head of the Swedish Trade Council.
Bodycote's Nykoping laboaratory has a global client base, working with resin
producers, pipe manufacturers and utility companies. The use of plastic pipes
is increasing rapidly in China, and in order to ensure good quality and long
term reliability, it is necessary to conduct tests. So far, insufficient
testing capacity has existed in China, hence the need for collaboration.
The NTSQP has limited testing capacity, whilst Bodycote Polymer is able to
cope with large volumes of long term tests (up to 4500 pipes on test
simultaneously), therefore the collaborative partners will pool resources,
with NTSQP initially concentrating on short term tests.
The long term aim of the collaboration is to set up a joint venture laboratory
in China, capable of performing both long and short term tests.
Bodycote Materials Testing operates from 37 laboratories in the UK, USA,
Canada, Norway, Sweden, Italy, the Netherlands and the Middle East.
Commenting on this announcement, John Chesworth, Managing Director, said
'Outsourcing is an important source of growth for Bodycote and the agreements
reached with PCC and the Chinese National Laboratory highlight the trend
towards greater third party involvement in metallurgical processes around the
World. Bodycote leads the global industry in this regard and it will continue
to see considerable outsourcing contracts within all areas of its business.'
Preliminary Results
Bodycote will be making its preliminary results announcement for the year
ended 31 December 2000 on 21 March 2001.
For further information:
For further information:
John Chesworth, Managing Director
Bodycote International plc
Tel: 01625 505300
Scott Fulton
Financial Dynamics
Tel: 020 7831 3113
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