REG - Strip Tinning Hldgs - Significant New “Smart” Glass Nomination

Strip Tinning HoldingsAnnouncement

02/04/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240402:nRSB9007Ia&default-theme=true

RNS Number : 9007I  Strip Tinning Holdings PLC  02 April 2024

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR. Upon the publication of this announcement via a Regulatory Information
Service, this inside information is now considered in the public domain.

02 April 2024

Strip Tinning Holdings plc

("Strip Tinning" or the Company")

Significant New "Smart" Glass Nomination

Largest ever Glazing nomination, with a lifetime value of £6.3million

Strip Tinning Holdings plc (AIM: STG), a leading supplier of specialist
connection systems to the automotive sector, is pleased to announce the
receipt of the largest Glazing nomination in the Company's history, from a
leading European automotive Tier 1 systems manufacturer.

Under the terms of the nomination, supply will start in Q3 2025 and run until
2035, with forecasted annual sales value peaking at £0.9 million and an
expected lifetime value of £6.3 million, which increases by 31% the total
lifetime sales value of Strip Tinning's Connectors nominations, from £20.5
million to £26.8 million 1  (#_ftn1) .  The total lifetime sales value of
all nominations held by the company is now £40.4 million.

The nomination is for the supply of an advanced connector to be used within a
Polymer Dispersed Liquid Crystal (PDLC) technology roof glass. The glazing
panels will be supplied to one of the premier German car OEMs and will be
deployed across a number of prestige EV and ICE vehicles in their range.

This is the second nomination that Strip Tinning has received in the rapidly
growing new "smart" glass market segment, in which electrically activated
layers within sunroofs, roof systems, windows, and visors turn car glass into
a dynamically adjustable and responsive light-management system. The connector
benefits from being built around flexible printed circuits (FPC) which give
weight and packaging advantages within the vehicle roof space.

Strip Tinning has had early success in the new PDLC market segment, and since
Q4 2022 has been supplying glazing connectors for the panoramic roofs of the
fully electric BMW iX vehicles. Resultantly, and as demonstrated by this
latest win, the Company continues to benefit from first mover advantage within
this space.  The Company is well placed for further successes, possessing
in-house FPC manufacturing capabilities as well as the required engineering
know-how to satisfy increasing customer demand for more complex connector
solutions.

A substantial pipeline of opportunities across each of the Glazing and EV
Battery Pack divisions remains, and Strip Tinning is confident of securing
further significant nominations in the first half of 2024.

Adam Robson, Executive Chair of Strip Tinning, commented:

 

"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."

 

The person responsible for arranging the release of this information on behalf
of the Company is Adam Le Van, Chief Financial Officer.

Enquiries:

Strip Tinning Holdings plc
 
                            Via Alma

Adam Robson, Executive Chairman

Richard Barton, Chief Executive
Officer

Adam Le Van, Chief Financial Officer

 

Singer Capital Markets (Nominated Adviser and Sole
Broker)                             +44 (0) 20 7496
3000

Rick Thompson

James Fischer

 

Alma (Financial PR)
 
   striptinning@almastrategic.co (mailto:striptinning@almastrategic.co) m

Josh
Royston
 
+44 (0) 20 3405 0205

Joe Pederzolli
 

 

 

 1  (#_ftnref1) Note: Calculated at €/£ exchange rate of 1.17

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
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEAELFEDPLEAA