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Chamberlin PLC - Walsall, West Midlands-based castings and engineering company - Says castings subsidiary Chamberlin & Hill Castings Ltd secures EUR7.3 million contract with an unnamed European automotive industry components supplier for up to eight years. Notes CHC will supply complex turbocharger bearing housing castings for use in passenger car engines. Adds tooling production will begin this July, while serial production will start in July 2024. Expects serial production to contribute EUR1.1 million in annual revenue.
Chief Executive Officer Kevin Price says: "This business win represents a significant step forward in re-building revenues at Chamberlin & Hill Castings and securing the long-term future order book. This contract strengthens our position as Europe's leading supplier of grey iron castings to the automotive turbocharger market."
Current stock price: 3.60 pence, up 16% on Thursday
12 -month change: down 24%
By Sabrina Penty, Alliance News reporter
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