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Avon Rubber p.l.c. is an international polymer engineering group which specialises in the manufacture of a range of high performance products. The company has facilities in 10 countries and supplies to customers all over the world. Avon is split into two operating divisions – Automotive and Technical Products. AVON AUTOMOTIVE 75% of the Group’s business is currently automotive, supplying the world’s car makers with a variety of low pressure hose systems, moulded parts and anti-vibration products. Centres of Excellence concentrate product, process and project management expertise at specific locations allowing good ideas and solutions to circulate among specialists. These are supported by Rapid Prototyping facilities, strategically located in North America and Europe. New products and compounds can be appraised, designed, developed, prorotyped and tested in a very short period of time, ensuring Avon is first to market with proven products. AVON TECHNICAL PRODUCTS This successful division manufactures high technology, specialist products to the Aerosol, Business Machines, Dairy and Defence markets. Aerosols During the last 50 years, Avon stem gaskets and cupseals have been fitted to billions of aerosol cans worldwide. Business Machines From facilities in America, Mexico, UK and the Czech Republic, Avon manufactures a variety of components for business machines such as photocopiers, printers and faxes. Dairy Avon is the largest manufacturer of dairy rubberware for milking machines in the world, producing a range of technologically advanced products specifically aimed at improving milk yield, parlour hygiene and bovine health. Defence An acknowledged world leader in the manufacture of CBRN protective masks, Avon supplies to the world’s military, paramilitary and police forces. This expertise is currently being used to develop the next generation mask for the US armed forces. Other defence-based applications include skirt systems for Navy hovercraft, crawler track for armoured tanks and flexible containers for storing water and fuel. Sector: Auto parts. Activities: Design and manufacture of components for the automotive industry and other polymer based products. Status: Full. Market Cap: (31 Oct 03) £57.5m. P&L: (30 Sep 02) Turnover £251m, pretax loss £1.46m. Ord Capital: (30 Sep 02) 27.8m £1 Ords. (29 Nov 02) Schroder Inv Mgmt Ltd 15.8%, Deutsche Asset Mgmt 5.94%, Henderson Global Invs 5.39%, M & G Inv Mgmt Ltd 4.60%, Jupiter Asset Mgmt Ltd 3.68%, Dirs 0.35%. Registrars: Northern Registrars Ltd, Huddersfield. Tel: (0870) 162 3131. Executive Directors: Willcox, Stephen J; app Oct 91, (Chief Executive), (46,108 Ords; 458,545 Incentive shrs). Stead, Terence Keith Parsons ( Terry), BSc(Hons) FCA; app Sep 98, (Finance Director), (8,383 Ords; 175,885 Incentive shrs). Bartels, Detlev; app May 02, (192,031 Incentive shrs). Stone, Stephen John; app Jun 95, (14,005 Ords; 237,459 Incentive shrs). Richards, Leland J; app Sep 01, (2,609 Ords; 163,530 Incentive Incentive shrs). Non-Executive Directors: Bonner, Trevor Courtnay, CBE FCA [Rem, Aud]; app Sep 94, (Chairman) (7,500 Ords); Priestley, Eric, BSc [Rem, Aud]; app Feb 98, (Deputy Chairman), (12,000 Ords); Carson, Neil A P, BSc; app May 01, (2,000 Ords); Duckworth, Brian, BA FCCA FIWEM FIWO; app May 02, (6,000 Ords). Company Secretary: Fairbairn, Peter J. Dirs Pay: (30 Sep 02) Total (incl pension costs) £1.26m (£0.88m); Ave overall £126,200 (£97,222); Ave higher paid £139,389 (£164,000). CH (excl pension conts) £50,000 (£36,000); HPD £290,000 (£238,000). Employees: (30 Sep 02). Total pay £82.2m (£89.3m). Bankers: Comerica Inc; HSBC Bank PLC. Fin Advisers: ING Bank NV (London) Brokers: Cazenove. Auditors: PricewaterhouseCoopers, Bristol. Solicitors: Linklaters. Fin PR: Weber Shandwick | Square Mile. Prop Adv: DTZ Debenham Tie Leung. Ins Agents: Aon Risk Services. |
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