REG - Strip Tinning Hldgs - Record "Smart" Glass Nomination

Strip Tinning HoldingsAnnouncement

25/04/2024 07:15

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RNS Number : 9383L  Strip Tinning Holdings PLC  25 April 2024

25 April 2024

Strip Tinning Holdings plc

("Strip Tinning" or the Company")

Record "Smart" Glass Nomination

Further major win in fast-growing "smart" glass segment, with an expected
lifetime value of £12.3m

Strip Tinning Holdings plc (AIM: STG), a leading supplier of specialist
connection systems to the automotive sector, is pleased to announce the
receipt of a further record Glazing nomination, from a leading European
automotive Tier 1 systems manufacturer.

The glazing panels will be supplied to one of the premier German car OEMs and
will be deployed across a new EV vehicle range.

Under the terms of the nomination, supply will start in Q3 2026 and run until
2031, with forecasted annual sales value peaking at £2.8 million and an
expected lifetime value of £12.3 million, which increases by 46% the total
lifetime sales value of Strip Tinning's Connectors nominations, from £26.8
million to £39.1 million 1 .  The total lifetime sales value of all
nominations held by the Company is now £52.7 million.

This nomination is the fourth which Strip Tinning has received in the "smart"
glass market, a rapidly expanding segment of the automotive glazing market.
Having identified Polymer Dispersed Liquid Crystal (PDLC) technology roof
glass as a substantial growth opportunity for the Company, significant
investment was made into "smart" glass production capabilities.

This win, in addition to the three previous "smart" glass nominations, further
demonstrates the Company's first mover advantage within this growing market
segment. The Company is now supplying smart roofing connectors to all the
leading German automotive OEMs, underlining Strip Tinning's position as the
supplier of choice for specialist connectors to the Glazing sector.

Adam Robson, Executive Chair of Strip Tinning, commented:

"We are proud to now be the preferred supplier of "smart" glass connectors to
all the leading German OEMs, having been supplying these specialist connectors
for two years. The further momentum we are now gaining is thanks to our first
mover advantage within this market segment.

It is clear that the well-documented shift of the automotive sector towards EV
production is not only opening doors for our EV battery cell contact systems
division, but is also propelling our Glazing business, as exemplified by not
only this win, but also our three prior "smart" glass nominations, both of
which are within the EV market.

Looking ahead, we are confident there will be further opportunities within the
"smart" glass sector and we continue to anticipate a significant new Cell
Contact System win for our EV division in H1."

The person responsible for arranging the release of this information on behalf
of the Company is Adam Le Van, Chief Financial Officer.

Enquiries:

Strip Tinning Holdings plc
 
                                         Via Alma

Adam Robson, Executive Chairman

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 (Financial PR)
 
                striptinning@almastrategic.co
(mailto:striptinning@almastrategic.co) m

Josh Royston
 
                                  +44 (0) 20 3405
0205

Joe Pederzolli
 

 

 

 

 

 1  Note: Calculated at €/£ exchange rate of 1.15

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