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Update on the Mitchum COVID 19 diagnostic expansion. Most recent job advert 6 days ago....
Very promising indeed, itâs is now obvious why 4 of the directors have recently bought shares.
I am particularly drawn to the content:
âMassive projectâ.
â5 new Engel injection moulding + roboticsâ
Injection Moulding Technician
Employer: Carclo Technical Plastics Ltd Salary: cÂŁ38,000 - ÂŁ43,000 Location: Mitcham
Shifts: 4 on 4 off (Permanent Night Shift) average of 42 hours over a 10-week period Overtime: opportunities for overtime (paid at an enhanced rate) Breaks: one hour paid break per shift
The Opportunity
We have been retained by Carclo to support them with employing two Injection Moulding Technicians with experience in the supervision of up to 5 staff on shift. To be considered for the role ideally you will be formally trained within Injection Moulding, this means your experience will be supported by formal qualifications in the form of either an Apprenticeship or industry recognised qualifications such as BPTA, City & Guilds or IMT at level 3 or above. Alternatively we would be keen to speak to candidates with extensive trade moulding experience or a medical Injection Moulding background.
The Company Carclo Technical Plastics in Mitcham are one of the largest suppliers of plastic Injection Moulded diagnostics and medical components in the UK. Supplying to the worldâs largest medical OEMâs, Carclo continues to drive standards in Injection Moulding and Automation.
Throughout Covid â 19 Carclo has supported the country with the manufacture of medical equipment and has secured a massive project to deliver high capacity and high-speed virus testing kits to one of the worldâs leading medical OEMâs.
This role will support this brand-new high precision, high technology cell.
The Environment Within this brand-new manufacturing cell, there will be 5 new Engel (electric & hybrid) Injection Moulding machines up to 450 tonnes, all machines within the cell will have its own automation including pick and place robots as well as 6 axis robots. Tooling on the machines will be up to 32 cavities.......
Great find gmcc, all part of AS master plan.
They forgot to mention the free vouchers for the wetherby whaler!!!
Did anyone else notice that the recent RNS was a âbusinessâ and not a âtradingâ update. A small difference but important.
The only thing missing from this update that had been included in all other previous trading updates, was the revenue figures for the last 6 months.
My thinking on this and why the cash position has held up so well in the period, is that the upfront/expansion/milestone payment received from LG or a.n.other, has been above all expectations (in the $10 -20 million range) and they did not want to publicise it for whatever reason either commercial, contractural or political.
The company spends in the last 6 months will have accelerated and I was expecting a big drop off in cash with their development streams going full pace (+ new labs, affimer generator machine on line November, new staff, consultants, cytiva, LSTM, BBI, solicitors, the list goes on).
By doing this change in the RNS update they have disguised the scale, target and progress made with their partners, all bodes well for the future months when further major milestone payments are triggered, resulting in a major uplift in shareholder value.
Thoughts anyone?
GLA
Agreed Sage. Also will not be our decision to make as small fry!!
Agreed Sage. Also will not be our decision to make as small fry!!
You are right star bright. We all know the P/E will be much higher than 3 !!
GLA sleep well.
Just seen this advert from 2 weeks ago...
Things are happening at pace....
Carclo Technical Plastics
London (+1 other)
Apply on World Wide Jobs
Apply on Jobs â Jobsonly.co.uk
18 days agoFullâtime
The Quality Engineering team at Carclo Technical Plastics, based in South London (Mitcham), is quickly growing due to a new production cell that has to be installed and fully validated according to ISO13485 in the next couple of months!
We are looking for a dynamic, curious, and highly motivated Manufacturing Quality Engineer eager to start a new adventure in a fast-paced environment.
Our team is responsible for the support of production to deliver the goods in quality that is requested by our consumers and complete the batch release in line with our internal procedures and medical device legislation (ISO13485).
Everything is coming together now at pace for Avacta, all heading for late march/early April launch.
I have felt for some time this company Carclo(CAR) is working with eitger one or all of : AVCT, BBI, ABDX, ODX, MOL+.
Their advert for a Manufacturing Quality Engineer from 2 weeks ago reiterated the urgent timescales to suit our current programme and announcements/leaks... + Plus 4 recent director buys also a good sign.
Carclo Technical Plastics
London (+1 other)
Apply on World Wide Jobs
Apply on Jobs â Jobsonly.co.uk
18 days agoFullâtime
The Quality Engineering team at Carclo Technical Plastics, based in South London (Mitcham), is quickly growing due to a new production cell that has to be installed and fully validated according to ISO13485 in the next couple of months!
We are looking for a dynamic, curious, and highly motivated Manufacturing Quality Engineer eager to start a new adventure in a fast-paced environment.
Our team is responsible for the support of production to deliver the goods in quality that is requested by our consumers and complete the batch release in line with our internal procedures and medical device legislation (ISO13485).
Is it cynical of me to link the heat of the court judgement against the Government's procurement transparency and this leak this evening. All the press attention this weekend will be on this and the vaccine roll out. Great diversion.
Well done all holders. Have a great weekend.
Hope Carclo's, 10 year diagnostic framework, is linked with this.
https://m.huffingtonpost.co.uk/entry/five-minute-covid-test-nightclubs-moonshot-plan_uk_602fee6fc5b67c32961d49aa
Thanks Tom, you are more than likely correct but I was just thinking that it may just have been the saliva one. The uk gov preferred route is the AN test, so trial that one in UK and then go into Europe for trialing the saliva test.?
AS has seemed to imply that they hadnât completely dropped the saliva test, it may have just been thwarted in the uk by the govâs insistence on the AN route.
So we may still have the 2 tests running in parallel.
Any thoughts please:
Do the RNS test results come from the Anterior nasal or the saliva test?
I can't see it specified anywhere.
Carcloâs new supply framework, could be what was being referred to in this tweet from Ophidian, the other day.
As always he provides great quality information and insights into the uk diagnostic industry.
Ophidian
@Ophidian18
A reliable source shared with me this morning that BBI have ordered yet more capacity translating as additional tooling orders for many millions of extra LFD cases per week. To be manufactured in the UK on an asap basis.
12:05 PM ¡ Jan 28, 2021¡Twitter Web App
Interesting reference made by ceo of Avacta today, regarding testing developers, manufactures, plastics suppliers, etc. Their tests along with others in the uk consortium have secured the uk supply of plastic parts. This fits in well with Carcloâs recent announcement of a 10 year framework agreement and current diagnostic test production.
Massive potential order stream.
No wonder the directors are currently filling their boots with shares.
https://bit.ly/2YWSM4Q
Approx 2 mins in.
Avacta own test, - AffiDXTM SARS-CoV-2 Lateral Flow test, fits in well with the ODX info the other other week.
This is all coming together.
"Avacta's Diagnostics Division works with partners world-wide to develop bespoke Affimer reagents for third party products. The Company is also developing an in-house pipeline of Affimer-based diagnostic assays including the AffiDXTM SARS-CoV-2 Lateral Flow Rapid Antigen Test and a BAMSTM SARS-CoV-2 Assay in partnership with Adeptrix Inc."
To add to the BBN thread the quote from Bruker on the 6 Jan regarding Adeptrics partnership this is not just about Covid, this is a longer term multi targeted opportunity. Avacta has got a seat at the table in regard to supplying other affinity reagents.
"Dr. Rohan A. Thakur, EVP of Life Sciences Mass Spectrometry at Bruker Daltonics, commented: âOur partnership with Adeptrix is important as it enables wider access to critical BAMS assay technology for translational research using MALDI-TOF mass spectrometry, which is capable of analyzing thousands of samples per day. Our partnership is expected to accelerate collaborations with developers of antibodies and other affinity reagents to expand the range of available protein biomarker Affi-BAMS assays for liquid biopsies, cell and tissue-based applications...."
Created UK based manufacturing structure, for future pandemics!!
Add Carclo (CAR) technical plastics into the mix with their undisclosed 10 year deal for diagnostic testing, including tooling up and production commencement.
This speculation of a UK diagnostic group is certainly worth chewing over.
Ref Carclo 23rd Dec RNS..
Carclo plc(CAR) a global provider of value-adding engineered solutions for the medical, optical, electronics and aerospace industries, announces that its Carclo Technical Plastics ("CTP") division has signed a framework agreement with a major global OEM for the manufacture of complex medical diagnostic disposable devices (the "Framework Agreement").
The Framework Agreement enables the award of production contracts to CTP for the manufacture of a range of products over the next ten years from a number of its facilities. Tooling contracts related to certain of these products have already been awarded to CTP and are expected to make a modest contribution to Group performance in the year to 31 March 2021. Alongside tooling production, significant capital investment will be made in the current year by the Group to establish sufficient capacity for the anticipated demand.
Production contracts remain subject to a number of conditions including product acceptance and, provided these are met, are expected to be awarded in the first half of the year to 31 March 2022 (FY22). After an initial ramp-up phase, CTP expects to reach full production volumes in the second half of FY22. At full rate production these contracts are expected to deliver incremental annual revenues of between GBP10m and GBP15m for the remainder of the contract life.
Hi insider01,
I understood yesterday's RNS stated $9.5m in total, not per year. Perhaps a slight correction to your good post may be in order.
GLA
Craiga, I totally agree.
All previous non covid RNS's have either mentioned the test programme as an add on or have had a covid RNS very close to them.
I believe he has a test covid RNS card in his back pocket ready to play, when allowed.
It's close.
GLA