25th Apr 2024 14:24
Strip Tinning Holdings PLC - Birmingham, England-based provider of connection systems to automotive sector - Wins contract to supply 'smart' roof glass for a new electric vehicle range being developed by a German automaker. The contract is with a "leading European automotive Tier 1 systems manufacturer". Neither the direct customer nor the carmaker are named by Strip Tinning. It says supply of the polymer dispersed liquid crystal technology roof glass will start in the third quarter of 2026 and run until 2031. The contract is worth GBP12.3 million in its lifetime, peaking at GBP2.6 million per year. Strip Tinning says total lifetime sales value for all supplier nominations held by the company now is GBP52.7 million. Strip Tinning had GBP10.2 million in revenue in 2022 and GBP5.6 million in the first half of 2023.
Current stock price: 38.90 pence, up 3.7% in London on Thursday
12-month change: down 26%
By Tom Waite, Alliance News editor
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