29th Jan 2015 08:54
LONDON (Alliance News) - AB Dynamics PLC Thursday said it had received an order from a customer in South America for a high specification Suspension Parameter Measurement Machine that worth more than GBP1.7 million.
In a statement, the maker of testing systems and measurement products for the automotive industry said about half the contract value is expected to be realised during the current financial year ending August 31, and it will contribute to its revenue target for the current year.
Its aid it will be the first Suspension Parameter Measurement Machine that it has delivered to South America.
"The new SPMM provides excellent extended visibility to the group's future revenues. We are very pleased to have achieved our first major sale in South America, underlying the strength of our position in the global automotive industry and our ability to cultivate markets globally," Managing Director Tim Rogers said.
AB Dynamics shares were up 2.0% at 171.79 pence early Thursday.
By Steve McGrath; [email protected]; @stevemcgrath1
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