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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
- TRADING UPDATES: Surface Transforms signs GBP13.2 million loan deal
11 Dec 2023 - UK shareholder meetings calendar - next 7 days
11 Dec 2023 - Surface Transforms raises GBP2.7 million via open offer of shares
11 Dec 2023 - TRADING UPDATES: Technology Minerals, Beeks Financial hail deal wins
14 Nov 2023 - LONDON MARKET CLOSE: Stocks end week mixed on soft US employment data
3 Nov 2023 - LONDON MARKET MIDDAY: Stocks mixed ahead of key US payroll data
3 Nov 2023 - AIM WINNERS & LOSERS: Audioboom shares ending week on strong note
3 Nov 2023 - Surface Transforms optimistic long-term but cuts guidance for 2023
3 Nov 2023
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