23rd Oct 2024 12:03
(Alliance News) - Strip Tinning Holdings PLC on Wednesday said it received its fifth contract for the supply of PDLC smart glass from an unnamed "global automotive tier 1 glazing manufacturer".
The Birmingham-based supplier of automatic specialist connection systems said it will supply the glazing panels to one of the "premier" German car original equipment manufacturers, to be used on two mid-range vehicles.
The contract involves supply ramping up in the fourth quarter of Strip Tinning's 2025 financial year, and will run until 2033. The annual sales value is expected to peak at GBP180,000, with an expected lifetime value of GBP1.1 million.
Strip Tinning said the contact has the potential to lead to further opportunities.
The company said it also recently received a smaller contract with the same client, involving the supply of a heating connector for an unspecified European sports car manufacturer. This is in addition to a battery technologies order from a "major" UK car original equipment manufacturer, for which Strip Tinning will supply an advanced cell-sensing FPC prototype.
Chair Adam Robson said: "Successfully securing a nomination with the leading global Tier 1 manufacturer is testament to the value of Strip Tinning's offering. We are particularly encouraged by our positioning in the fast-growing PDLC connector market, and we are optimistic that this initial win has the potential to generate additional new business opportunities for the company. The sales pipeline across both of our divisions continues to build, and we remain confident that we will double our sales by the end of 2026."
Shares in Strip Tinning Holdings were up 0.4% at 35.13 pence each in London on Wednesday morning.
By Emily Parsons, Alliance News reporter
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