Announcement
Pennant Int. Group : Record Order Book drives expansion of premises
RNS Number : 5582E
Pennant International Group PLC
19 July 2016
19 July 2016
Pennant International Group plc (AIM: PEN)
Record Order Book Drives Expansion of Pennant's Business Premises
Pennant International Group plc, ("Pennant" or "the Group"), the AIM quoted supplier of integrated logistic support solutions, products and services, principally to the defence, rail, aerospace and naval sectors and to Government departments, is pleased to announce that in response to the need for additional design, development and production capacity resulting from a record order book and increasing business capabilities, Pennant has taken possession of two commercial premises at Staverton Connection Business Park, Cheltenham.
The new premises, which have a combined floor area of over 8, 000 sq. ft. (743 m2) will almost double Pennant's production capacity to over 20,000 sq. ft. (1,858 m2) and are located a short distance from the Group's existing facilities in Cheltenham.
Work has already commenced fitting out the interiors of the premises, which includes the installation of offices, canteen/kitchen facilities, and mezzanine floors covering 1,600 sq. ft. of workspace. It is expected that the new facilities will be fully operational by the beginning of September.
Commenting on the new facilities, Pennant's Chief Financial Officer, Phil Walker, said: "This long-term investment provides a clear indication of our confidence in the future growth, prosperity and success of the Group."
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Enquiries: |
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Pennant International Group plc |
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Phil Walker, CFO |
+44 (0) 1452 714 914 |
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Chris Snook, CEO |
+44 (0) 1452 714 914 |
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WH Ireland Limited |
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Mike Coe / Ed Allsopp |
+44 (0) 117 945 3470 |
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Walbrook PR |
www.walbrookpr.com
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Paul Vann / Tom Cooper |
+44 (0) 117 985 8989 Mob: 07768 807631 |
This information is provided by RNS
The company news service from the London Stock Exchange
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