Solid State lands USD5.2 million follow-on contract from US customer

(Alliance News) - Solid State PLC on Friday said it has secured a follow-on order from a customer in the US, building upon its established relationships.

The Worcestershire, England-based electronics supplier for industry and defence said the order is worth USD5.2 million, and is for an internet of things technology product first supplied in May last year.

It said the order is from an unnamed US franchise line, with the customer solution creating smart vending machines.

Shares in Solid State were up 1.6% at 187.88 pence on Friday morning in London.

Solid State said the order will be delivered by its components division, Solsta, and it expects contract delivery to commence in the second quarter of the current financial year.

It expects this period to extend through to the third quarter of the following financial year.

Solid State will report its results for the financial year that ended March 31 on July 8.

"This follow-on contract highlights the benefits of our combined specialist hardware and software capabilities alongside our international footprint and is an excellent illustration of what Solsta does so well," said Jon Baxter, executive director of sales & operations EMEA at Solsta.

"We see this as a strong validation of our offering and hope to build further on the relationship we've established," continued Baxter.

By Christopher Ward, Alliance News reporter

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