16th Oct 2023 09:51
Surface Transforms PLC - Liverpool-based carbon‐ceramic automotive brake disc manufacturer - Announces selection as tier one sole supplier of its brake discs to an existing mainstream customer named as OEM 10, "one of the world's largest automotive [original equipment manufacturers]". Company's discs will be used in a range of new electric vehicles, with production expected to start in 2027. Expects lifetime revenue on this range to exceed GBP100 million. Deal increases the value of its awarded lifetime contracts to over GBP390 million. It will require capacity beyond its current factory footprint and phase 2 capacity investment programme, but Surface Transforms has "sufficient time to implement the third phase...to provide GBP150 million per year of total sales capacity." Read More
