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Tomkins on target despite car cuts

12 April 2012

SPARE-PARTS sales in the US have held up well for engineering group Tomkins even though major US carmakers have cut their output, and the group has been trading in line with forecasts.

Spares sales represent about half of Tomkins' automotive business in North America. Problems in the air systems components division were overcome by increased business in the housing market.

Tomkins' shares advanced 13 1/2p, or 8%, to 180 1/2p in response to the news.

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