Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Royal Bank of Scotland Group plc    RBS   GB0007547838

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Royal Bank of Scotland Group plc : Specialist glass manufacturer Romag invests for the future

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/15/2011 | 05:16pm CET
Specialist glass manufacturer Romag invests for the future 14 December 2011

County Durham-based Romag, one of Europe's leading suppliers of specialist glass, is to spend almost £1m on state-of-the-art machinery unique to the UK as the firm's management continues their ambitious strategy of quality-driven growth. The near-£1m investment is part of a wider £2m programme that has allowed the firm to expand production at its factory in Leadgate, Consett, as well as take on 20 new members of staff (10% of its workforce). The bespoke funding deal was put together by the Newcastle-based Corporate & Institutional Banking team at Royal Bank of Scotland (RBS CIB).

Specialising in solar photovoltaic, architectural, security and transport glass, Romag is seen as an expert in its industry and is trusted worldwide to provide high quality, UK-manufactured products meeting the needs of a diverse customer base. The firm has been in the North East since 1943 and a subsidiary of Sunderland-based conglomerate Gentoo Group since April of this year. Gentoo has been a customer of Royal Bank of Scotland for over 10 years; the Newcastle RBS CIB team became Romag's day-to-day corporate banking partner earlier this year.

Romag's latest investment involves a £815k facility from RBS' Lombard division to buy a hi-tech Japanese processing machine which will dramatically improve efficiencies and manufacturing capability at its factory. The aim is to supply ultra-high-quality products that the meet the demands of its global clients. Along with Lombard, a number of other RBS divisions helped facilitate the deal: RBS Global Transaction Services was used to provide advice on importing the machine from Japan while RBS CIB's foreign exchange unit helped with currency interchange.

Additional staff will be working in Romag's glass production and supporting departments as the firm gears up to supply its specialist glass products. Additionally, Romag is set to continue the investment at its Consett site with further capital purchases planned for the New Year.

Sean Brodie, Romag's finance director, said: "This year has been a definitive year for the firm, illustrated succinctly by the delivery of the new state-of-the-art machine. This will substantially increase Romag's production firepower and help us reach more clients and service our existing client base even further. I've been delighted with Royal Bank of Scotland's help in putting the funding and related facilities together and look forward to working with the RBS team in Newcastle in the future."

Graham Robinson, relationship director for RBS CIB in Newcastle, said: "Romag and the Gentoo Group are welcome success stories in the North East and we have worked hard to make sure these companies thrive and grow on the local, national and international stage. We value clients extremely highly and the bespoke package that RBS CIB put together using multiple teams in the RBS group shows how effectively we can support firms looking to maximise opportunities."

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ROYAL BANK OF SCOTLAND GRO
12/09 ROYAL BANK OF SCOTLAND : Screen Machine in the frame for a refit
12/09 FTSE records best week since July, Sky surges 27 percent on Fox bid
12/09 ROYAL BANK OF SCOTLAND : supports National Plan for Responsible Business
12/08 ROYAL BANK OF SCOTLAND : RBS ordered to hand over documents in shareholder cash ..
12/08 FINTECH : envoys for Scotland appointed to help grow the sector
12/08 ROYAL BANK OF SCOTLAND : to Pay $1B Over Right Issue Charges
12/07 ROYAL BANK OF SCOTLAND : Ulster Bank-supported venture will provide specialist h..
12/06 GUEST BLOG : Embracing the entrepreneurial spirit of the Armed Forces
12/06 ROYAL BANK OF SCOTLAND : Arrest over break-in at town bank
12/06 ROYAL BANK OF SCOTLAND : Break-in arrest
More news
Sector news : Banks - NEC
12/09DJWELLS FARGO : Fired Wells Fargo Brokers Asked to Contact Finra With Concerns
12/09DJWELLS FARGO : Fired Wells Fargo Brokers Asked to Contact Finra With Concerns
12/09DJFinancial-Services Firms Start to Scout for New Office Space
12/09 Time Inc hires bankers to explore takeover, partnership interest - WSJ
12/09 BANCA MONTE DEI PASCHI DI SIENA : Italian decree to support banking system is re..
More sector news : Banks - NEC
Advertisement
Financials ( GBP)
Sales 2016 11 863 M
EBIT 2016 2 704 M
Net income 2016 -3 279 M
Debt 2016 -
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
Capi. / Sales 2016 2,17x
Capi. / Sales 2017 2,15x
Capitalization 25 692 M
More Financials
Income Statement Evolution
More Financials
Consensus 
Mean consensus UNDERPERFORM
Number of Analysts 24
Average target price 2,03  GBP
Spread / Average Target -6,4%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Ross Maxwell McEwan Group Chief Executive Officer & Executive Director
Howard John Davies Chairman
Mark Bailie Chief Operating Officer
Ewen Stevenson Chief Financial Officer & Executive Director
Aileen N. Taylor Director & Chief Governance Officer
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
ROYAL BANK OF SCOTLAND..32 784
JPMORGAN CHASE & CO.29.47%304 582
WELLS FARGO & CO5.11%287 728
BANK OF AMERICA CORP36.36%231 911
INDUSTRIAL AND COML BA..0.22%231 516
CHINA CONSTRUCTION BAN..-0.87%189 754
More Results