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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 doubles revenues at new home on Merseyside
17 Sep 2018 - Surface Transforms Promotes Finance Director Cunningham To Board
10 Sep 2018 - Surface Transforms Expects Two Fold Rise In Annual Revenue
13 Jun 2018 - Turnover and earnings tumble at Surface Transforms
13 Feb 2017 - Surface Transforms Wins Contract For Ceramic Brake Discs Supply
2 Feb 2017 - Surface Transforms on the up with new contract win
2 Feb 2017 - WINNERS & LOSERS SUMMARY: Bookies Sold As Betting Machine Curbs Loom
8 Dec 2016 - Surface Transforms Shares Drop As Interim Revenue Halves
8 Dec 2016
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