RCS - Strip Tinning Hldgs - New Order from leading EV customer

Strip Tinning HoldingsAnnouncement

03/04/2023 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230403:nRSC0414Va&default-theme=true

RNS Number : 0414V  Strip Tinning Holdings PLC  03 April 2023

03 April 2023

RNS Reach

Strip Tinning Holdings plc

("Strip Tinning" or the "Company")

New Order from leading EV customer

Strip Tinning Holdings plc (AIM: STG), a leading supplier of specialist
connectors to the automotive sector, announces that it has secured a new order
for a large number of sample cell contact system modules from the Company's
leading EV customer, supplying into the autonomous vehicle industry in the
USA. The order reflects the ongoing strength of the relationship between both
parties and the significant progress being made by the end user towards
commercialisation, having already received the necessary regulatory approvals.

The value of the order is c.£775k, with the majority of the parts expected to
be shipped in 2023 and the Company anticipates  next receiving C-sample
orders as a result. The order is a strong endorsement of Strip Tinning's
offering and underpins the Company's well-established reputation as a supplier
of cell contact systems to the fast-growing EV space.

 

Richard Barton, Group Chief Executive Officer of Strip Tinning, commented:

"We are delighted with the progress our customer is making and the
strengthening validation of our critical components. This latest order
represents real momentum towards commercialisation for our customer, which in
turn gives us renewed confidence in the commercial opportunity for Strip
Tinning."

 

Enquiries:

Strip Tinning Holdings
plc
Via Alma PR

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 PR (Financial
PR)
                striptinning@almapr.co.uk

Josh
Royston
 
+44 (0) 20 3405 0205

Joe Pederzolli
 

 

 

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/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

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  NRASSUFDEEDSESL