RE: RNS out20 Jun 2025 15:02
Strip Tinning said trading in the Battery Technologies division has been strong, and it expects divisional revenue for 2025 to be "more than 2.5 times" 2024.
"This strong performance in the higher margin BT division is more than offsetting softness in the Glazing division, reflective of the wider automotive sector," the company said.
Strip Tinning is supplying a Cell Contact system for battery pack modules for a US-based autonomous vehicle programme.
It now expects the contract to be worth GBP56.8 million, up from GBP43 million.
"This contract is gathering pace and is the primary driver of the increased sales in 2025 as sales of pre-production parts has increased," Strip Tinning said.
The company said it does not expect the supply of the systems to fall under the proposed US auto parts tariffs, as the designated export commodity category code which the CCS uses does not fall within the automotive parts ECC coding categorisations.