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Pin to quick picksAB Dynamics Regulatory News (ABDP)

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1,056.00    22.00 (2.13%)
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Spread: 8.00 (0.765%)
Market Cap: £241.72m
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Contract Win

24 Mar 2014 07:00

RNS Number : 9444C
AB Dynamics PLC
24 March 2014
 



24 March 2014.

AB Dynamics plc("ABD" or the "Group")

Contract win

AB Dynamics plc (AIM: ABDP), the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive industry, is pleased to announce that it has received an order from a new overseas customer for a high specification Suspension Parameter Measurement Machine ("SPMM").

The SPMM order, placed by China Automobile Engineering Research Institute (CAERI) is valued at more than £1.6 million with delivery expected in June 2015. Most of the value of the contract is expected to be recognised in the Company's financial year commencing 1 September 2014. This will be the sixth SPMM that the company has delivered to China. The contract provides ABD with further future revenue visibility and highlights the motor industry's continued demand for its SPMMs.

Tim Rogers, Managing Director of AB Dynamics commented:

"The new SPMM provides excellent extended visibility to the Group's future revenues. We are very pleased to have achieved a further sale in China, underlying the strength of our position in the global automotive industry."

 

For further information please contact:

AB Dynamics plc

Tim Rogers, Managing Director

Tony Best, Chairman

 

01225 860 200

 

Cairn Financial Advisers LLP (Nomad)

Tony Rawlinson

Avi Robinson

 

0207 148 7900

Charles Stanley Securities Limited (Broker)

Dugald J. Carlean

Karri Vuori

 

0207 149 6000

 

Newgate Threadneedle (PR)

Josh Royston

Heather Armstrong

 

0207 653 9850

 

 

Overview of AB Dynamics plc

ABD is a leading designer, manufacturer and provider of advanced testing and measurement products for vehicle suspension, brakes and steering to the global automotive research and development sector. The Group was founded in 1982 and listed on AIM in May 2013. The Group is headquartered in Bradford on Avon employing approximately 50 staff. ABD currently supplies all of the top twenty automotive manufacturers, including Honda, Toyota, Ford and Volkswagen, who routinely use the Group's products to test vehicle safety and dynamics.

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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