30 May 2023 -contract update
As reported last December, Carclo suffered the loss of a major long term contract which had been expected to deliver additional revenues of between £10m and £15m per year. The company has been in negotiations with the customer to gain some compensation for this and these talks have now come to a satisfactory conclusion. Although the exact details of the agreement remain confidential, the company has stated that the compensation should cover the group's financial exposure arising from the contract termination. Carclo has also revealed that it has successfully re-allocated the production capacity . . .
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