18th Sep 2020 20:03
Trackwise Designs PLC - UK-based manufacturer of specialist products using printed circuit technology - Signs three-year product manufacture & supply agreement with a UK manufacturer of electric vehicles, which Trackwise said has the potential to be worth up to GBP5.0 million in 2021, and with the expectation of increased revenues in 2022 and 2023.
The agreement includes annual volumes, and certain payments to Trackwise in the event of lower volumes. In the event all contracted volumes are achieved the agreement would be worth, subject to annual pricing reviews, up to GBP38 million over the period to December 31, 2023.
"Whilst material payments to Trackwise will be due in the event of lower volumes, this potential up to GBP38 million total revenue value is not guaranteed in total as it is conditional on, inter alia, orders placed, supply, and annual pricing reviews. The agreement can be terminated by either party after December 31, 2023," the company added.
Current stock price: 169.75 pence
Year-to-date change: up 91%
By Paul McGowan; [email protected]
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