com:20090716:RnsP7407V
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RNS Number : 7407V  
  
Hamworthy plc  
  
16 July 2009  
  
 
  Press Release   16 July 2009  
  
  
Hamworthy plc  
  
("Hamworthy" or the "Group")  
  
AGM Statement  
  
Hamworthy plc (AIM:HMY) will hold its Annual General Meeting ("AGM") at 2:00pm 
today at the Hytes Suite, Harbour Heights Hotel, Haven Road, Sandbanks, Poole, 
Dorset BH13 7LW. At the AGM the Chairman of Hamworthy, Gordon Page, will make 
the following statement:  
  
"As at 30 June 2009, Hamworthy continues to have good near term visibility and 
sales coverage through its robust order book which stood at £222 million (30 
June 2008: £301 million). As expected, order intake for new product sales 
remained slow with a total order intake for the Group of £29 million for the 
first quarter to June 2009 (2008: £51 million). Order intake for Aftersales 
continues at the steady levels seen through the last financial year.  The Group 
benefitted from sterling's weakness in currency translation in the year to 31 
March 2009. Since the year end sterling has strengthened by approximately 6% 
against the basket of the Group's reporting currencies.  
  
"Hamworthy has recently won a number of interesting orders across the Group. The 
Pump Systems division has won a £3 million order for pump room and engine room 
pump systems for a series of five tankers to be built in China for the 
Indonesian state-owned oil and gas company Pertamina. The Gas Systems division 
secured a £3 million order for its liquid petroleum gas handling system for a 
small fully pressurised LPG carrier to be built in China, representing a 
breakthrough in this target market segment. The Water Systems division has 
recently received a second retrofit order for its advanced waste water system 
from a leading North American cruise brand and an upgrade contract on Carnival's 
Ocean Village Two.  
  
"Hamworthy continues to identify areas for further cost savings. In addition to 
the cost reductions previously announced in the Gas Systems and Water Systems 
businesses, the Group is taking action to reduce costs in its deepwell pump 
business in Denmark after two years of very high levels of activity. This will 
result in a headcount reduction in that business of 13%.  
  
"With the recent signing of the legal agreement for the acquisition of the 
Technology & Products division of Aibel AS, the Norwegian oil services company, 
Hamworthy will further expand its presence in the offshore oil and gas market.  
The acquisition brings market leading technology into the Hamworthy Group for 
the separation of oil and water in oil production and for safe handling of cargo 
on FPSOs.   
  
"The Group expects to strengthen its market positions during the current 
challenging economic conditions and the Board believes that Hamworthy is well 
positioned to capture new growth opportunities as they arise.  Subject to the 
effects of currency rates on translation, the Board remains confident of meeting 
expectations for the financial year ending 31 March 2010."  
  
- Ends -  
  
For further information:  
  
 
  Hamworthy plc                                                
  Joe Oatley, Chief Executive       Tel: +44 (0) 1202 662 600  
  Paul Crompton, Finance Director   www.hamworthy.com          
  
  
 
  Hawkpoint Partners Limited                              
  Christopher Kemball          Tel: +44 (0) 20 7665 4500  
  Vinay Ghai                   www.hawkpoint.com          
  
  
Media enquiries:  
  
 
  Abchurch                                                           
  Henry Harrison-Topham / George Parker   Tel: +44 (0) 20 7398 7702  
  henry.ht@abchurch-group.com             www.abchurch-group.com     
  
  
Notes to editors  
  
Hamworthy is a leader in the design and manufacture of innovative gas handling, 
pumping and water management systems for the marine and oil & gas industries. 
The business benefits from markets that have long-term growth prospects.  It 
produces technically advanced solutions, often in response to environmental 
needs and legislation.  
  
With its headquarters in the UK, operations in 13 countries and representation 
in over 50, the Group has established a leading global position in its chosen 
markets. Further information on Hamworthy plc can be found at www.hamworthy.com  
  
 
This information is provided by RNS  
  
The company news service from the London Stock Exchange  
  
  END  
  
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