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23 Oct 2024 07:00
23 October 2024
Strip Tinning Holdings plc
("Strip Tinning" or the Company")
New Glazing Sales Nomination
Fifth key strategic PDLC Connector nomination from the leading global Tier 1 Glazing manufacturer
Strip Tinning Holdings plc (AIM: STG), a leading supplier of specialist connection systems to the automotive sector, is delighted to announce the receipt of a fifth strategic nomination1 in the rapidly growing PDLC "smart glass" market, from the leading Global automotive Tier 1 Glazing manufacturer.
The glazing panels will be supplied to one of the premier German car OEMs and will be deployed on two new mid-range vehicles. Under the terms of the nomination, supply will start to ramp-up in Q4 2025 and run until 2033, with forecasted annual sales value peaking at £0.18 million and an expected lifetime value of £1.1million.
The nomination marks a significant step for the Company in its relationship with the leading global Glazing manufacturer and has the potential to lead to further opportunities.
Strip Tinning is pleased with other sales developments. It has received a smaller nomination from this same Tier 1 Glazing customer, for a heating connector for the leading European sports car manufacturer. Secondly, it has received a Battery Technologies order for a major UK based car OEM for an advanced cell sensing FPC prototype. These additional orders highlight the potential for further expansion with these two strategic customers.
Adam Robson, Executive Chair of Strip Tinning, commented:
"Successfully securing a nomination with the leading global Tier 1 manufacturer is testament to the value of Strip Tinning's offering. We are particularly encouraged by our positioning in the fast growing PDLC Connector market and we are optimistic that this initial win has the potential to generate additional new business opportunities for the Company. The sales pipeline across both of our divisions continues to build and we remain confident that we will double our sales by the end of 2026."
1 A nomination can be defined as a formal contract to supply components for particular vehicle models or programmes over a certain period.
Enquiries:
Strip Tinning Holdings plc Via Alma
Adam Robson, Executive Chair
Mark Perrins, Chief Executive Officer
Kevin Edwards, Chief Financial Officer
Singer Capital Markets (Nominated Adviser and Sole Broker) +44 (0) 20 7496 3000
Rick Thompson
James Fischer
Alma (Financial PR) striptinning@almastrategic.com
Josh Royston +44 (0) 20 3405 0205
Joe Pederzolli
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