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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
- WINNERS & LOSERS SUMMARY: Costain Drops Almost 40% On Contract Delays
28 Jun 2019 - Surface Transforms Settles Existing Contract, Awarded Two More
28 Jun 2019 - Surface Transforms plummets on revenue downgrade
7 May 2019 - Surface Transforms Raises GBP1.9 Million In Share Issue (ALLISS)
20 Mar 2019 - Surface Transforms Interim Loss Widens As Administrative Costs Surge
26 Feb 2019 - Surface Transforms revenues take a dip
4 Dec 2018 - Surface Transforms Shares Fall On Lower Revenue And Production Delays
4 Dec 2018 - Aston Martin Contract Helps Surface Transforms Narrow Loss
17 Sep 2018
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