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Statement by Gregory Hutchings At the Annual General Meeting

25 September 1998

Statement by the Chairman, Gregory Hutchings At the Annual General Meeting


    LONDON--Sept. 25, 1998--Tomkins PLC , the international manufacturing company, today held its Annual General Meeting. Tomkins' Chairman, Gregory Hutchings said:
    "I am pleased to report that trading in the first four months of the current year has been in line with our expectations.
    "Cash generation remains good and we have almost completed the (pound)100 million share buy back program. We are focused on our core strategic business activities and the potential for further add-on acquisitions is increasing as company valuations fall.
    "Overall our financial strength ensures that we remain able to support growth opportunities while also investing in our businesses. Due to the current global uncertainty, the economies in which most of our operations trade are likely to become more difficult, however we are confident that the range and quality of our businesses will enable us to deliver continued outperformance."
    Tomkins comprises a broad range of low-risk technology manufacturing companies. Tomkins' US interests include The Gates Rubber Company, Denver, CO, the world's leading manufacturer of power transmission belts and a major producer of hose and connector products. Other interests include, Murray, Inc., Brentwood, TN, one of the leading US producers of power lawnmowers, snow blowers and bicycles; Red Wing Corporation, Fredonia, NY, the largest US manufacturer of private label grocery products; Smith & Wesson Corporation, Springfield, MA, manufacturer of handguns, handcuffs and the Identi-Kit system; and Tomkins Industries, Dayton, OH, a leading manufacturer of components for residential, commercial, and industrial buildings, materials handling and the transportation industry.
    Tomkins shares trade in the US in ADR form (each equal to four ordinary shares) on the New York Stock Exchange under the symbol TKS; its ordinary shares are listed on the London Stock Exchange.