Contract Win

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.

 

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