Solid State secures £1m contract with Renishaw

Solid State, an electronic components manufacturer, has secured a £1m contract with Renishaw for the suply of its semiconductor devices.Under the agreement, Renishaw will use the devices of Solid State's supplies division in its metrology products.Renishaw will be able to import the component directly onto the manufacturing line without having to undertake any pre-programming, which the group said will save it time and effort.The contract will be delivered over the next 12 months.Managing director John Macmichael said: "Renishaw have always been viewed as innovators in precision manufacturing. It is very pleasing to have been brought into their supply chain through recognition of our own initiatives in component supply."Shares rose 3.28% to 868p on Thursday at 10:51.