17 December 2010 – trading update
A reassuring trading update has been provided, alongside news on the appointment of John Wilson as Chief Executive Officer and a restructuring.
Operations which joined the Group as a result of the Hartest Holdings Plc acquisiton in September 2010 have been integrated well and recent trading performance is in line with market expectations. A restructuring designed to provide a greater focus on using the Group’s core technologies for further innovative product design and development will take place. As a result John Wilson, a Board member and Divisional Managing Director of Elektron Technology, is appointed Chief Executive Officer of the Group as of today. We maintain our BUY recommendation.