Ambrian PLC Ambrian to focus on industrial activities (5126M)
October 14 2016 - 1:00AM
UK Regulatory
TIDMAMBR
RNS Number : 5126M
Ambrian PLC
14 October 2016
Ambrian plc
("Ambrian" or the "Company")
Ambrian to focus on industrial activities
As previously announced, the Board has been seeking to adapt the
Company's business model so as to reduce earnings volatility and
protect its capital base going forward. Accordingly, the Board has
determined that, in light of the prevailing uncertain business
environment in the commodity sector, the Company's metal trading
activities will be wound down in an orderly manner and closed over
the next few months. Unlike the capital engaged in the Company's
industrial asset base, capital employed in the metal trading
activities can be released within a relatively short time span,
strengthening the Company's resources. As a consequence, following
the closure of its metals trading business, Ambrian will focus on
the development of its industrial asset base and on building a
portfolio of businesses with a balanced risk profile and defensive
income drivers. The Board is currently assessing a number of
strategies, investments and corporate transactions which it
believes could assist the Company in achieving these targets.
JP Conrad, CEO, said:
"The long term fundamentals of our cement producing and
marketing business remain solid. We continue to drive operational
improvements which benefits will be captured to their full extent
once the Mozambique economy resumes its historical growth pattern.
Moving out of the metals trading activities allows Ambrian to
become a more focused organisation and accelerate the performance
and development of our industrial asset base. "
Enquiries
Ambrian plc
Roger Clegg + 44 (0)20 7634 4700
Cenkos Securities plc
Neil McDonald + 44 (0)20 7397 8900
Nick Tulloch
This announcement contains inside information.
This information is provided by RNS
The company news service from the London Stock Exchange
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