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© nickondr dreamstime.com Electronics Production | May 09, 2014

From US to Mexico - TT moves shop

TT Electronics' sales in the first four months of 2014 were in line with expectations and ahead of prior year by 3.0% on a constant currency basis.
The positive trading noted in the last quarter of 2013 has continued and all businesses have performed well. TT also reports that its order bookings were in line with the sales performance.

“Implementation of the Operational Improvement Plan within the Sensing and Control business is progressing, with line moves taking place from its Fullerton, USA facility into Mexico and consultation initiated on the proposed transfer of manufacturing from Werne, Germany to Romania and other better cost facilities. We continue to manage carefully the implementation of this complex Plan in order to maintain supply to our customers. The consolidation of sales offices in certain territories to further enhance our sales focus is on course to be completed during the second quarter”, the company writes in a press release.

The company's positive start to the year – along with a good order momentum in the first four months – have provided TT with some confidence for the current year. The implementation of the Operational Improvement Plan aims to strengthen the Group's competitive position over the medium term, providing a strong foundation for organic growth and margin improvement.

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February 08 2018 5:15 pm V9.2.4-1