REG - Solid State PLC - £9.8m Follow-On Defence Contract with NATO

Solid StateAnnouncement

22/11/2022 07:00

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RNS Number : 1227H  Solid State PLC  22 November 2022

 

Solid State plc

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

£9.8m Follow-On Defence Contract with NATO

 

Solid State plc (AIM: SOLI), the specialist value added component supplier and
design-in manufacturer of computing, power, and communications products,
announces that it has been awarded a further £9.8m contract by the NATO
Support and Procurement Agency (NSPA) to supply communications equipment to a
defence customer through its Systems division.  The revenues from this
contract are expected to contribute towards market expectations for the
financial year 2023/2024.

Commenting on the contract, Gary Marsh, Chief Executive of Solid State, said:

"It is very pleasing to secure such a significant follow-on order from NATO,
so soon after securing the £7.3m order announced on 14 November 2022.
Matthew Richards and his team in the Systems division have done an excellent
job in meeting the exacting requirements of NATO's needs, which has been
rewarded through these two contract awards."

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

For further information please contact:

 

 Solid State plc                                           Via Walbrook

 Gary Marsh - Chief Executive

 Peter James - Group Finance Director
 WH Ireland (Nominated Adviser & Joint Broker)             020 7220 1666

 Mike Coe / Sarah Mather (Corporate Finance)

 Fraser Marshall (Sales)

 finnCap (Joint Broker)                                    020 7220 0500

 Ed Frisby (Corporate Finance)

 Rhys Williams / Tim Redfern (Sales / ECM)
 Walbrook PR (Financial PR)                                020 7933 8780

 Tom Cooper / Nick Rome                                    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://solidstateplc.com/research/)

 

Notes to Editors:

Solid State plc (SOLI) is a value added electronics group supplying
commercial, industrial and defence markets with durable components,
assemblies, manufactured units and power units for use in specialist and harsh
environments.  The Group's mantra is - 'Trusted technology for demanding
environments'.  To see an introductory video on the Group
- https://bit.ly/3kzddx7 (https://bit.ly/3kzddx7)

 

Operating through two main divisions: Systems (Steatite, Active Silicon &
Custom Power) and Components (Solid State Supplies, Pacer, Willow Technologies
& AEC); the Group specialises in complex engineering challenges often
requiring design-in support and component sourcing for computing, power,
communications, electronic, electro-mechanical and opto-electronic products.

 

Headquartered in Redditch, UK, Solid State employs approximately 400 staff
across the UK and US, serving specialist markets with high barriers to entry
in industrial, defence and security, transportation, medical and energy.

 

Solid State was established in 1971 and admitted to AIM in June 1996.  The
Group has grown organically and by acquisition - having made 4 acquisitions in
the last 5 years.

 

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