15th Mar 2016 07:01
Stadium Group plc
("Stadium", the "Company" or the "Group")
New Contract Win
Stadium Group Plc (AIM: SDM), a leading supplier of wireless solutions, power supplies and electronic assemblies, announces that it has been awarded a manufacturing contract worth £5 million by Trak Global Solutions Ltd ("Trak Global"), a leading UK based telematics business.
This new contract, an extension of the two companies' ongoing supply partnership, will see the Company continue to produce Trak Global's insurance telematics and usage-based insurance ("UBI") units. The telematics products are fitted to a vehicle and monitor individual driving styles taking into account factors such as acceleration, braking and speeding; encouraging insurance customers to adopt a safer driving style as it can benefit the level of the insurance premium.
Insurance Telematics, which underpins UBI, is one of the fastest growing machine-to-machine (M2M) vertical markets, with Berg Insight projecting CAGR of 42.4% between 2015 and 2019. This new contract will underpin the continued growth in Wireless expected to be seen in 2016 and beyond.
Charlie Peppiatt, Chief Executive Officer of Stadium, commented: "Aftermarket automotive telematics is an exciting growth area for M2M wireless communication and we're delighted to announce this deal with Trak Global. The size and scale of this engagement further underpins the strength of our Stadium Wireless proposition, benefiting from the growing trend towards Insurance Telematics. Our dedicated Wireless Regional Design Centres and manufacturing centres of excellence provide mass volume scale and local agility for Trak Global as they expand their offering to the UK car insurance market."
Nick Corrie, Managing Director of Trak Global, commented: "We're very pleased to work with Stadium as our Wireless hardware manufacturing partner as we continue to build on our position as a leading European telematics solutions provider. Stadium's ability to optimise a global supply chain as well as having the capacity to support high volume roll-out of products for this high growth sector, make them the ideal partner for us."
For further information, please contact:
Stadium Group plc | www.stadiuminvestors.com |
Charlie Peppiatt, Chief Executive Officer | Tel: 01429 852 500 or Mob: 07990 826697 |
Joanne Estell, Chief Finance Officer | Mob: 07807 095419 |
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Walbrook PR | Tel: 020 7933 8780 or [email protected] |
Paul McManus | Mob: 07980 541 893 |
Helen Cresswell | Mob: 07841 917 679 |
Paul Whittington | Mob: 07557 285 676 |
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N+1 Singer | Tel: 020 7496 3000 |
Sandy Fraser |
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Richard Lindley
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About Stadium Group plc (www.stadiumgroupplc.com)
Stadium Group plc is a leading supplier of wireless solutions, power supplies and electronic assemblies with design and manufacturing operations in the UK and Asia. The Company consists of two divisions:
1. Technology Products (50.1% of 2015 revenues)
· Wireless solutions- design, integration and manufacture of "machine-to-machine M2M" wireless solutions
· Power supplies (including Stontronics) - custom and standard power product solutions from 1W to 10kW
· Human Machine Interface - intelligent "HMI" integrated solutions
2. Electronic Manufacturing Services (49.9% of 2015 revenues)
· Electronic Manufacturing Services to global original equipment manufacturers
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