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197.50 -7.50 (-3.66%)

Bid:

195.00

Ask:

200.00

Spread: 5.00 (2.564%)

Market Cap: £112.04m

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Solid State secures £2.2m computer supply contract

Tue, 05th Jan 2021 08:45

(Sharecast News) - Computing, power and communications products manufacturer Solid State said on Tuesday that its manufacturing division, Steatite, had secured a contract valued at £2.2m to supply more than 1,000 computer systems.
Solid State stated the units supplied by Steatite would be part of "a rugged computing and display system" for an unnamed customer in the transportation sector.

The AIM-listed group added that delivery was expected over a 12-24 month period, starting early in the 2021/2022 financial year.

Matthew Richards, Steatite's managing director, said: "At our recent results announcement in early December, we expanded on the work we were doing to broaden our exposure to certain structural growth markets.

"Transportation was one of those and therefore it is pleasing to be able to announce such a significant contract award resulting from that focussed effort."

As of 0845 GMT, Solid State shares were up 1.61% at 749.85p.