MS hails strength of defence division

Industrial engineering firm MS International said its defence business, which makes up the bulk of its order book, continues to prosper in line with expectations.
By The Newsroom
Published 4th Feb 2010, 20:20 BST
Updated 4th Feb 2010, 20:20 BST

The Doncaster-based firm said there are signs that a recovery in

activity in its industrial engineering businesses is starting to

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emerge, although it warned that it could be a fragile reco-very.

The group described its order book as "substantial" and heavily biased in favour of defence.

It said this was "a most favourable position" as it believes it could be some considerable time before there is a real and sustainable recovery in order intake levels from the broad global markets served by its industrial engineering division.

It added that the balance sheet remains strong with high levels of net cash and short term deposits.

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The group said it continues to actively drive, encourage and support its ongoing product development and production efficiency programmes.

MS International's diversity has helped it to weather the global recession.

The defence division has bailed out its struggling forgings and petrol station forecourt businesses, which have been hit by "austere" market conditions.

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