REG - Chamberlin PLC - Major Contract Win

ChamberlinAnnouncement

22/06/2023 14:15

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RNS Number : 6344D  Chamberlin PLC  22 June 2023

 

22 June 2023

Chamberlin plc

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

 

Major Contract Win

 

Chamberlin (AIM: CMH.L), the specialist castings and engineering group,
announces that its castings subsidiary, Chamberlin & Hill Castings Ltd
("CHC"), has secured a major new contract worth approximately €7.3 million
of revenue over an eight-year term with a leading European automotive industry
components supplier. Under the contract, CHC will supply complex turbo charger
bearing housing castings to the European automotive OEM that will be utilised
in its passenger car engines.

 

Secured after a rigorous competitive tender process, tooling production begins
in July 2023 and supply of the pre-series sample production parts will take
place throughout the current financial year. Serial production commences in
July 2024 and is expected to contribute annual revenues of approximately
€1.1 million.

 

Kevin Price, Chief Executive of Chamberlin, commented,

 

"I am delighted to announce this major contract win for our Walsall foundry.
This business win represents a significant step forward in re-building
revenues at Chamberlin and Hill Castings and securing the long-term future
order book. This contract strengthens our position as Europe's leading
supplier of grey iron castings to the Automotive turbo charger market."

 

 

Enquiries:

 

 Chamberlin plc                                                T: 01922 707100

 Kevin Price, Chief Executive Officer

 Alan Tomlinson, Finance Director

 Cenkos Securities plc (Nominated Adviser and Joint Broker)    T: 020 7397 8900

 Katy Birkin

 Stephen Keys

 George Lawson

 Peterhouse Capital Limited (Joint Broker)                     T: 020 7469 0930

 Lucy Williams

 Duncan Vasey

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the UK version of the EU
Market Abuse Regulation (2014/596) which is part of UK law by virtue of
the European Union (Withdrawal) Act 2018, as amended and supplemented from
time to time.

 

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