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Renewal of Contract

4th Mar 2025 07:00

RNS Number : 1870Z
Coral Products PLC
04 March 2025
 

Coral Products plc

("Coral", the "Company" or the "Group")

Renewal of Contract

Coral Products plc, a group of specialist businesses in the design, UK manufacture and omni-channel supply of a wide range of bespoke plastic products based in Wythenshawe, Manchester, announces that Tatra Rotalac Limited, a wholly owned subsidiary of the Group, has been awarded the renewal of a 3-year supply contract ("Contract") with a major international telecommunications group.

Following the previous renewal of this Contract, which was announced on 4 November 2020, the Company is pleased to have secured the renewal of this Contract against a competitive international tender process.

As is standard in this type of contract, it does not guarantee any sales volumes, however the Company anticipates, based on historic volumes under the existing arrangements, that aggregate turnover of circa £12m - £15m will be achieved during the 3-year supply contract to March 2028.

Tatra Rotalac Limited, which is based in Manchester, provides bespoke thermoplastic extrusion and injection moulding solutions across a number of industries worldwide.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). The Directors of the Company take responsibility for this announcement.

For further information, please contact:

Enquiries:

www.coralproducts.com

Tel:

 

 

 

Coral Products plc

Joe Grimmond

Non-Executive Chairman

07703 518 148

 

 

 

Cairn Financial Advisers LLP

Sandy Jamieson / Ludovico Lazzaretti

 

NOMAD and Broker

020 7213 0880

 

Caution regarding forward looking statements

This announcement contains unaudited information and forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts and undue reliance should not be placed on any such statement because they speak only as at the date of this document and are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and Coral's plans and objectives, to differ materially from those expressed or implied in the forward-looking statements. Coral undertakes no obligation to revise or update any forward-looking statement contained within this announcement, regardless of whether those statements are affected because of new information, future events or otherwise, save as required by law and regulations.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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