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FINE TUBES APPOINTS BBS TO MANAGE FINAL SALARY SCHEME

Fine Tubes Ltd., the Plymouth-based manufacturer of precision metal tubing, has appointed one of the UK‘s leading independent specialist pension firms to manage its final salary employee scheme.

BBS will provide actuarial, administration and consultancy services to the Trustees of the Fine Tubes‘ Retirement Benefits Scheme, which provides final salary benefits to over 500 current and former employees.

“Fine Tubes is a forward-looking, high-end manufacturer and we look forward to working with the company it as it continues to develop,” said James Stanfield, director at Bristol-based BBS, which recently announced that its client pension assets have exceeded £1 billion.

Roger Johnson, Chairman of the Trustees of the Fine Tubes scheme, added: “We are delighted to have appointed BBS as they offer a top quality administration service and all of the advice that we require to efficiently manage the Scheme for the benefit of the members.”

Earlier this year Fine Tubes, which employs more than 300 people, announced plans to grow its turnover significantly by concentrating on high-end products in the next few years as it anticipates a return to growth in 2011.
The US-owned business makes high precision metal tubes in stainless steel, nickel alloys and titanium for the aerospace, medical, nuclear, oil and gas and chemical sectors.


ENDS                4th August 2010

Photo Caption: Michael Harvey -BBS Actuaries

For further information please contact Michael Harvey michael.harvey@bbs-actuaries.co.uk  or 0117 906 4691 or Neil Fraser on 01275 390 552