Chairman's Statement

Severfield-Rowen PLC 30 May 2000 SEVERFIELD-ROWEN PLC AGM STATEMENT Peter Levine, the Chairman, speaking at the Annual General Meeting held today, made the following comments: The Management Accounts for the first 4 months of 2000 indicate that we are in line with budget and relative to the current market conditions prevailing in the UK structural steelwork industry remain on course for a good year. It is increasingly apparent that our reputation, production efficiencies, quality of service and financial strength have combined to ensure that not only has our leading market position been maintained but it has been enhanced. The industry remains extremely competitive with margins continuing to be under pressure. However our forward order book is currently at £65 million and enquiries for significant projects for which our group is particularly suited are encouraging. For example we have recently been awarded a 6,000 tonne project for a Card Processing Centre at East India Docks in London. The building of the No 5 production line at Dalton is now complete with full production having commenced last week. We remain committed to developing the business by way of acquisitional and organic growth and despite the current challenging market conditions, your Board is most optimistic as to the Group's prospects for the future. Peter Levine Chairman For further information, please contact: Peter Levine, Chairman Severfield-Rowen 01132 469993 Richard Mountain Financial Dynamics 020 7831 3113


Severfield (SFR)
UK 100

Latest directors dealings