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- This share is currently suspended. It was suspended at a price of 0.112
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Surface Transforms Secures Development Agreement With German Carmaker
LONDON (Alliance News) - Surface Transforms PLC on Monday said it has signed a pre-production technology development agreement with an unnamed German carmaker.
Surface said the deal with the "leading German performance car manufacturer" would, if successfully concluded, lead to a series of supply deals covering the carbon ceramic brake discs Surface Transforms makes.
The company said that should a production contract be awarded, minimal additional revenue would be made in the year to the end of May 2017, but revenue would grow to around GBP3.0 million in its 2018 financial year and further to GBP10-12 million a year once volumes mature.
"We are delighted to formally announce this agreement, which provides a strong endorsement for our carbon ceramic brake technology and illustrates the deepening relationship with our OEM customer," said Surface Transforms Chief Executive Kevin Johnson.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Latest SCE News
- Surface Transforms Revenue Doubles But Is Behind Expectations
10 Jan 2020 - UK Shareholder Meetings Calendar - Next 7 Days
23 Oct 2019 - Surface Transforms to supply brake discs to 'major' automotive firm
26 Sep 2019 - Surface Transforms Secures GBP400,000 Brake Disc Supply Contract
26 Sep 2019 - Surface Transforms Loss Widens On Contract Delays And Payroll Costs
9 Sep 2019 - Surface Transforms finalises deal with unnamed German manufacturer
27 Aug 2019 - Surface Transforms Inks Brake Discs Deal With German Car Maker
27 Aug 2019 - Surface Transforms upbeat on recent contract activity
28 Jun 2019
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