RCS - Solid State PLC - Over $4m Optoelectronics Contract

Solid StateAnnouncement

05/10/2020 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:20201005:nRSE0236Ba

RNS Number : 0236B  Solid State PLC  05 October 2020

 

Solid State plc

("Solid State", the "Group" or the "Company")

˃$4m Optoelectronics Contract

 

 

Solid State plc (AIM: SOLI), the AIM listed manufacturer of computing, power
and communications products, and value added distributor of electronic and
optoelectronic components, is pleased to announce the award of a 3 year
contract to supply optoelectronic modules to a leading UK instrumentation
company.  The contract has been awarded to Solid State's Pacer
optoelectronics business unit acquired by the Group in November 2018.

 

The customer is a long standing client of Pacer.  Approximately $1.7m will be
recognised in the first year of the contract.

 

John Macmichael, Managing Director of the Value Added Distribution division,
said:

"It is particularly pleasing to be announcing this contract with a
longstanding customer.  It ably demonstrates the resilience of Solid State's
revenues and customer relationships, whilst reinforcing the value to the Group
of the recent strategic acquisition of Pacer Technologies."

 

 

For further information please contact:

 

 Solid State plc                        Via Walbrook PR
 Gary Marsh - Chief Executive           investor.information@solidstateplc.com

                                      (mailto:investor.information@solidstateplc.com)
 Peter James - Group Finance Director

 Walbrook PR (Financial PR)             020 7933 8780
 Tom Cooper / Paul Vann                 0797 122 1972
                                        solidstate@walbrookpr.com (mailto:solidstate@walbrookpr.com)

 

 

Analyst Research Reports: For further analyst information and research see
the Solid State plc website: https://solidstateplc.com/research/
(https://urldefense.proofpoint.com/v2/url?u=https-3A__solidstateplc.com_research_&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=05PHl3GHdShYuaCii2fBRpoqaNr9B1d97X09daeosu0&m=JmX-gQVke87P3UDBxQzNglNm9FfzH5yZtIa_SmElSS4&s=ib8r3ul2tCaEvJ39SnR1LT7nCa7gAcRQzgO-kNoyZoM&e=)

 

 

Notes to Editors:

 

Solid State plc (SOLI) is a value added electronics group supplying industrial
and military markets with ruggedised/durable components, assemblies and
manufactured units for use in harsh environments.  The Group's mantra is -
'Trusted technology for demanding applications'.  To see an introductory
video on the Group - https://youtu.be/bp4WfLCEc5Y
(https://youtu.be/bp4WfLCEc5Y)

 

Operating through two main divisions: Manufacturing (Steatite) and Value Added
Distribution (Solid State Supplies & Pacer); the Group specialises in
complex engineering challenges often requiring design-in support and component
sourcing for computing, power, communications, electronic and optoelectronic
products.

 

Headquartered in Redditch, Solid State employs over 200 staff across the UK
with a branch office in the USA, serving specialist markets in oil & gas
production, transportation, medical, construction, security, military and
field maintenance.

 

Solid State was established in 1971 and admitted to AIM in June 1996.  The
Group has grown organically and by acquisition - having made 10 acquisitions
since 2002.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. 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  NRAUPGMGUUPUGMC