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Chamberlin loses largest machine shop customer; shares slump
StockMarketWire.com
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Castings and engineering group Chamberlin said it had lost its largest customers of the machine shop's output to a rival supplier.
Ongoing customer orders were likely to be a 'fraction of the original contract,' the company said.
The company said it would be pursuing a claim relating to the earlier than planned transition and in the meantime all staff in the machine shop had been furloughed.
The dire update comes as the company said that production levels at the company's two foundries continued to remain at or above pre-Covid-19 levels, while trading at Petrel was below normal sales levels but was improving.
At 8:45am: (LON:CMH) Chamberlin PLC share price was 0p at 11.25p
Story provided by StockMarketWire.com
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