Tricorn Group TCN Contract Loss

  Tricorn Group (TCN) - Contract Loss

RNS Number : 2145Q
Tricorn Group PLC
02 November 2012




2 November 2012

                              Tricorn Group Plc

                          ("Tricorn" or the "Group")

                                Contract Loss

Tricorn Group plc  (AIM:TCN.L), the AIM  listed tube manipulation  specialist, 
announces that it has been informed that Rolls-Royce is not intending to renew
or extend  the supply  agreement  with its  subsidiary, RMDG  Aerospace,  that 
expires on 31^st December 2012.

The supply agreement  relates to  the ongoing  supply of  pipe assemblies  and 
accounted for approximately  11% of  the Group's  revenue as  reported in  its 
financial statements for the year ended 31 March 2012.

Mike Welburn, Chief Executive of Tricorn, commented:

"We are  extremely  disappointed to  be  advised  of this  decision.  We  have 
continued to improve  operational performance within  the business and  remain 
committed to  the  aerospace  sector.  We  have  a  healthy  pipeline  of  new 
opportunities and will be working hard to replace this lost volume as  quickly 
as possible."

The impact of this contract loss on full year earnings is under evaluation  at 
present and the Group will provide a further update at the time of the release
of its unaudited interim results for  the six months ended 30 September  2012, 
which is expected to be on 3 December 2012.



For further information please contact:



Tricorn Group plc        Tel +44 (0)1684 569956
Mike Welburn - Chief Executive           www.tricorn.uk.com
Phil Lee - Group Finance Director
Westhouse Securities Limited      Tel + 44 (0)20 7601 6100
Tom Griffiths - Corporate Finance
Henry Willcocks - Corporate Broking
Winningtons                             Tel + 44 (0)20 3176 4722
Tom Cooper / Paul Vann      Tel + 44 (0)797 122 1972
                                    tom.cooper@winningtons.co.uk





Notes to Editors:

Tricorn is a value added manufacturer  and specialist manipulator of pipe  and 
tubing assemblies  to  niche markets  worldwide  in the  Energy  &  Utilities, 
Transportation and Aerospace sectors.

Headquartered in  Malvern,  UK,  Tricorn  employs  around  300  employees  and 
operates  through  four  brands:  MTC;  Redman  Fittings;  Maxpower  and  RMDG 
Aerospace.



                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


CNTBBBDBRGGBGDD -0- Nov/02/2012 11:10 GMT
 
Press spacebar to pause and continue. Press esc to stop.