Last checked at 22 Sep 2008 07:00
22 September 2008 Surface Transforms plc ("Surface Transforms" or the "Company") Long Term Distributor agreement with Mov'it GmbH ("Mov'it")
Surface Transforms, makers of high-technology carbon fibre reinforced ceramic materials for the aerospace, defence and high end automotive markets, has signed a perpetual distributor agreement with Mov'it GmbH www.movit.de, a leading European supplier of braking systems to the after-market industry. The principal markets for ceramic brake sets are owners of high-performance vehicles, fast heavy road cars and light race cars seeking significantly enhanced braking performance.
Mov'it, established in 1994 and based in Achern Germany, supplies its automotive clients within Germany through 45 sub dealers. It has distributors appointed in a further 21 countries. Mov'it focuses on brake upgrade kits for high end fast and heavy cars and typically installs approximately 3,000 steel based brake disc systems per annum.
Mov'it has been distributing SystemST ceramic brake discs to the automotive tuning aftermarket in Europe for over a year and this new agreement cements the Company's strong existing trading relationship.
The Board believes, based on forecasts prepared by Mov'it, this agreement could generate additional revenues of between ‚£300,000 and ‚£400,000 per annum over the life of the agreement and that the Company has sufficient capacity to meet this demand. Furthermore, the Board firmly believes this agreement will establish a sound trading foundation from which to grow the Company's automotive aftermarket business.
Guido Frensemeyer owner and Managing Director of Mov'it GmbH, said:
"After many years of research and road testing we have found a compelling solution with Surface Transforms' ceramic rotors. They most certainly support us in our policy of striving to offer nothing less than perfection. I am sure that our new business agreement will prove to be very successful for both parties and I look forward to an interesting future together."
Commenting, Kevin Johnson Chief Executive of Surface Transforms, said:
"Surface Transforms has established itself as an industry operator with world class technology in this sector and we are continuing to drive sales growth in this high performance segment of the automotive market."
Details of the Company's business and financial performance and its share price can be found on www.armshare.com which is accessed from the Armshare icon on www.surface-transforms.com
Enquiries:Surface Transforms plc websites: www.surface-transforms.com and www.systemsST.com Dr Kevin Johnson, Tel: +44(0)151 356 2141 Kevin D'Silva Tel: +44(0)7802 306956 Mov'it GmbH Tel: +49 7841 50880 Guido Frensemeyer John East & Partners Limited (Nomad and Broker) Simon Clements/Virginia Bull Tel: +44(0)20 7628 2200 Hansard Group (PR) Tel: +44(0)20 7245 1100 John Bick/Chris Roberts Redmayne Bentley (Private Client Broker) Lucy Clapham/Simon Flather Tel: +44(0)1943 886600
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