Press Releases

 

 

Press Release 24 September 2008

Turbotec Products Plc

("Turbotec” or “the Company")

New Production Facilities

Turbotec Products Plc (TRBO.L), the designer and manufacturer of energy efficient heat exchangers and heat transfer tubing, announces that it has selected Hickory near Charlotte, North Carolina, in the USA as the location for the expansion of its manufacturing operations. The Company plans to establish a second fabrication division at an existing facility in Hickory. The set-up costs of the facility will be financed out of the Company’s ongoing trading cash flows and grants from Catawba County Economic Development Corporation.

Sunil Raina, Managing Director of Turbotec, said: “The new location provides Turbotec with the opportunity to better serve our growing customer base, especially those in the southern states of the USA. The location’s lower cost business environment and the presence of an existing skilled manufacturing workforce were critical to our decision making process. These factors should provide opportunities to realise production efficiencies and further cost savings in our operations.”

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For further information please contact:
Turbotec Products PLC
Sunil Raina, Managing Director
SRaina@turbotecproducts.com
Robert Lieberman, Finance Director
RLieberman@turbotecproducts.com
Tel: +1 (860) 731 4200

www.turbotecproducts.com

Evolution Securities Limited
Joanne Lake / Peter Steel Tel: +44 (0) 113 243 1619

Media enquiries:
Abchurch Communications
Charlie Jack / Jack Ballantyne Tel: +44 (0) 207 398 7714

Notes to Editors

Turbotec designs and manufactures heat exchangers and Tru-Twist® heat transfer tubing for the space conditioning, refrigeration, plumbing, water heating and aerospace industries. It supplies to customers located throughout the world, with its primary markets being the United States and Canada.

Turbotec focuses primarily on energy saving heat transfer and heat reclamation products. Its enhanced surface tubing provides higher energy efficiencies for applications in the boiler, marine, swimming pool and spa, residential/commercial heating and cooling, ice machine and food and beverage industries.

Turbotec Products Plc is the parent company of a wholly owned subsidiary, Turbotec Products, Inc. an established, specialist engineering business, headquartered in Windsor, Connecticut, USA, employing 94 staff.

Turbotec (TRBO.L) listed on the AIM market in London in May 2006 and is included in the FTSE Industrial Machinery sector. Sales growth is primarily organic, supporting Group turnover for the year ended 2008, which increased by 19%, to $28 million.

Further information on Turbotec Products Plc, can be found at www.turbotecproducts.com

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