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RMDG Aerospace

RMDG Aerospace. Preliminary Results Presentation March 2007. Senior Management Team. Steve Cooper CEO Previously President of IMI’s Fluid Power Division £450m sales 22 manufacturing locations worldwide 6500 people Mike Welburn Group Sales Director

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RMDG Aerospace

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  1. RMDG Aerospace Preliminary Results Presentation March 2007

  2. Senior Management Team • Steve Cooper • CEO • Previously President of IMI’s Fluid Power Division • £450m sales • 22 manufacturing locations worldwide • 6500 people • Mike Welburn • Group Sales Director • Previously Director of Global OEM Strategy for IMI’s Fluid Power Division

  3. Results Overview-Highlights • Record results • Operating profit* up 59.6% to £1,044k • Strong underlying growth • £120k investment in restructuring/rationalisation at RMDG • Acquisition of Maxpower Automotive announced today • Continue to look for further opportunities to expand *before rationalisation, goodwill amortisation and FRS 20 charges

  4. Results Overview

  5. Business Review • Malvern Tubular Components • Redman Fittings • RMDG Aerospace • Maxpower Automotive

  6. Supporting major OEM’s worldwide • Largest of the businesses • UK, USA, Asia • Key end market is power generation • Generator sets • Diesel engines • Radiators • Sales up 16% • Further extension of component purchases from lower cost countries • Improving customer value

  7. Low Cost Country Sourcing • Office established in Nanjing for 18 months • Good progress to date • 4 Full time employees • Network of sub contractors for:- • Tube • Bellows • End fittings

  8. Innovation • Revolutionary end fitting system • World wide patents • Able to join multi-layer pipework • Strong demand from water companies • Brown field site developments • Potential land contamination • Water quality • Sales up 61% • Outlook encouraging • Additional markets/opportunities identified

  9. Acquired June 2006 • Productivity up 15% • Team working on identifying and sourcing components from low cost countries • £120k investment in rationalisation/reorganisation • Delivery performance improving to world class levels • Plans to make business a significant contributor to profits 07/08 well on track

  10. New Shop floor layout Before After

  11. Acquisition of Maxpower Automotive • Announced today • Cash consideration £1.55m • For year ending March 2006 • PBT £69.7k • Sales £5.3m • Gross assets £2.8m • Net assets £428k

  12. Maxpower • Tube manipulation and fabrication • Off highway, niche Automotive • Steel, plastic and hybrid tube forming

  13. Maxpower • The type of business we know and understand well • Blue chip OEM customers base • Perkins • Shibaura • Land Rover • JCB • Dura • Siemens VDO • Techniques and methods used at MTC will be used to drive the business forward

  14. New Group Structure .

  15. Tricorn Group Plc-Strategy • Operational Performance • Continue to drive for world class operational performance within individual businesses • Develop local management expertise • Intimate customer relationships • Lean manufacture • On time delivery • Quality • Margin improvement • Overhead streamlining • Year on year productivity improvements • Component and semi finished sourcing from low cost countries • Growth • Continue to grow through acquisitions and organically • Maintain clear focus on pipe solutions • Increase customer penetration as product portfolio expand and develops • Acquire new customers

  16. Markets Power Gen Aerospace Off High Niche Auto Water Other

  17. Customers • Blue chip Original Equipment manufacturers • Caterpillar • Perkins • F G Wilson • Rolls-Royce • Cummins • JCB • Shorts Bombardier • Land Rover • GPS • Bearward

  18. Tricorn Group Summary • Strong and experienced management team • Proven track record established • Clear, focussed strategy • Scope for significant expansion • Outlook for the Group very positive with all key market sectors strong and drive for reduced costs continuing to be successful

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