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18 September 2018
Autins Group plc
(the "Company" or the "Group")
Response to OEM announcement
Autins Group plc (AIM: AUTG), a leading designer, manufacturer and supplier of acoustic and thermal insulation solutions for the automotive sector notes the announcement yesterday by Jaguar Land Rover that it is to temporarily reduce production levels at one of its UK manufacturing plants from October until the end of 2018.
The Board is seeking further clarification from Jaguar Land Rover regarding the impact of its announcement but the Board believes that lower levels of supply will be required by this site which could have a potentially material impact on the outcome for FY19.
The Board will provide further detail as soon as possible, including updates on the outcome for the current financial year which ends on 30 September 2018.
For further information please contact:
Autins Group plc Adam Attwood, Non-Executive Chairman Ian Griffiths, Interim Chief Executive James Larner, CFO |
Via Newgate |
Cantor Fitzgerald Europe (Nominated Adviser and Broker) Philip Davies Will Goode |
Tel: 020 7894 7000 |
Newgate Communications (Financial PR) Adam Lloyd |
Tel: 020 7653 9850 |
About Autins
Autins specialises in the design, manufacture and supply of acoustic and thermal insulation solutions primarily in the automotive sector but with an increasing focus on other sectors, including flooring, building and wider industrial applications.
The Group is one of the leading suppliers of noise and heat management products in the automotive market, producing and supplying over two million parts per month to customers including some of the world's leading vehicle manufacturers.
