REG - Strip Tinning Hldgs - New Glazing Sales Nomination

Strip Tinning HoldingsAnnouncement

23/10/2024 07:00

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RNS Number : 1944J  Strip Tinning Holdings PLC  23 October 2024

23 October 2024
 

Strip Tinning Holdings plc

("Strip Tinning" or the Company")

New Glazing Sales Nomination

Fifth key strategic PDLC Connector nomination from the leading global Tier 1
Glazing manufacturer

Strip Tinning Holdings plc (AIM: STG), a leading supplier of specialist
connection systems to the automotive sector, is delighted to announce the
receipt of a fifth strategic nomination(1) in the rapidly growing PDLC "smart
glass" market, from the leading Global automotive Tier 1 Glazing manufacturer.

The glazing panels will be supplied to one of the premier German car OEMs and
will be deployed on two new mid-range vehicles. Under the terms of the
nomination, supply will start to ramp-up in Q4 2025 and run until 2033, with
forecasted annual sales value peaking at £0.18 million and an expected
lifetime value of £1.1million.

The nomination marks a significant step for the Company in its relationship
with the leading global Glazing manufacturer and has the potential to lead to
further opportunities.

Strip Tinning is pleased with other sales developments. It has received a
smaller nomination from this same Tier 1 Glazing customer, for a heating
connector for the leading European sports car manufacturer. Secondly, it has
received a Battery Technologies order for a major UK based car OEM for an
advanced cell sensing FPC prototype.  These additional orders highlight the
potential for further expansion with these two strategic customers.

Adam Robson, Executive Chair of Strip Tinning, commented:

"Successfully securing a nomination with the leading global Tier 1
manufacturer is testament to the value of Strip Tinning's offering. We are
particularly encouraged by our positioning in the fast growing PDLC Connector
market and we are optimistic that this initial win has the potential to
generate additional new business opportunities for the Company. The sales
pipeline across both of our divisions continues to build and we remain
confident that we will double our sales by the end of 2026."

(1) A nomination can be defined as a formal contract to supply components for
particular vehicle models or programmes over a certain period.

Enquiries:

Strip Tinning Holdings
plc
      Via Alma

Adam Robson, Executive Chair

Mark Perrins, Chief Executive
Officer

Kevin Edwards, 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
 

 

 

 

 

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