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Confident start at Morgan Crucible
British industrial materials firm Morgan Crucible said it is confident of delivering half-year results ahead of expectations as it sees a strong recovery across all its geographies. The firm, which provides carbon technology to the aerospace and space exploration industries, also said it performed better than its previous expectations in the first four months of 2011, driven by a strong performance at its ceramics division. The company, which initiated streamlining of its business in July, said it would incur restructuring costs of about £5m in 2011, the majority of in the first-half of the year.