Chamberlin receives revised orders from BorgWarner

Castings and engineering group Chamberlin said on Thursday that it has now received revised orders from a client that had previously indicated its intention to part ways with the company.

In December, BorgWarner stated it would cancel all contracts with Chamberlin from 22 January. However, the AIM-listed company stated it had now received revised orders from BorgWarner through to 22 March.

Chamberlin added it was implementing further measures to reduce costs and was now exploring options to strengthen its balance sheet, including investigating the possibility of new equity capital and alternative measures to ensure its future.

As of 0940 GMT, Chamberlin shares were flat at 7.0p.