2nd Apr 2024 12:17
(Alliance News) - Strip Tinning Holdings PLC on Tuesday said it has received an order for its Glazing division from an unnamed automotive Tier 1 systems manufacturer.
Shares in Strip Tinning were up 11% at 37.70 pence each in London on Tuesday.
The Birmingham, England-based provider of electrical connectors for automotive sector said the order is for the supply of an advanced connector to be used within a polymer dispersed liquid crystal technology roof glass.
The glazing panels will be supplied to one of the premier German car original equipment manufacturers and will be deployed across a number of prestige electric vehicles and internak combustion engine vehicles in their range.
Supply will start in the third quarter of next year, Strip Tinning said, and will run until 2035.
Annual sales are forecast to peak at GBP900,000 with an expected lifetime value of GBP6.3million. The total lifetime sales value of all nominations held by the company is now GBP40.4 million.
Chair Adam Robson said: "The increasing number of opportunities we are seeing across our Glazing division is inextricably linked to the transition to EV, as demonstrated by this latest win within the "smart" glass market segment, with production parts set to be deployed across a number of prestige EV and ICE vehicles.
"Securing this record nomination in the rapidly growing "smart" glass market segment exemplifies our strong market positioning, as well as the growth we are seeing across the business. The order book across both the EV Battery Systems and Glazing divisions continues to build and we remain focused on converting our considerable sales pipeline."
By Sabrina Penty, Alliance News reporter
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