October 10, 2016 / 9:41 PM / a year ago

BRIEF-Luxfer group updates Q3 2016 guidance

Oct 10 (Reuters) - Luxfer Holdings Plc

* Luxfer group updates third-quarter 2016 guidance and announces conference call for november 8

* Advised that it anticipated weaker third-quarter trading, with certain contracted shipments rescheduled into q4

* Expect q3 adjusted eps to be approximately 12 cents below results for q1 and q2 this year

* Luxfer holdings - noted that lower defense spending was affecting demand for magnesium-based products, compounded by outage at defense customer’s plant

* Temporarily closed one magnesium powder facility and laid off employees at another of co’s magnesium business units

* Luxfer - defense customer’s outage in may lasted longer than anticipated; customers reporting low requirements for magnesium-based products over next few months

* Normal demand for magnesium powder not expected to recover before q1 2017

* Says “we must assume that current weakness in defense-related markets will persist at least until end of 2016”

* Luxfer holdings plc - large user of our sand-casting alloys recently entered into chapter 11 protection in a u.s. Bankruptcy court Source text for Eikon: Further company coverage:

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