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New Contract Win

15th Mar 2016 07:01

RNS Number : 0631S
Stadium Group PLC
15 March 2016
 

 

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

 

 

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

 

 

N+1 Singer

Tel: 020 7496 3000

Sandy Fraser

 

Richard Lindley

 

 

 

 

 

 

 

 

 

 

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

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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