10 production lines moved from Germany to Romania

Within the OIP the company's has completed the transfer of ten lines, with nine of them customer qualified. Transfer and qualification of a further two lines is scheduled for the first half of 2016. The final four lines will remain in Germany, with the transfer of production to Romania expected to be concluded by the end of the first half of 2016. As a result, TT expect the costs of the programme to be around GBP 25 million (EUR 35 million), approximately GBP 5 million less than originally anticipated. "Our focus on the strategic priorities has resulted in strong progress on new product introduction, new customer wins and in particular the Operational Improvement Plan and cash generation. The transfer of production from Germany to Romania is now expected to be completed a year earlier than anticipated, and we are developing plans to deploy the cash saved in further cost reduction measures,” CEO Richard Tyson said in a trading update.