New Order from leading EV customer

RNS Number : 0414V

Strip Tinning Holdings PLC

03 April 2023

 

03 April 2023
RNS Reach

Strip Tinning Holdings plc

("Strip Tinning" or the "Company")

New Order from leading EV customer

Strip Tinning Holdings plc (AIM: STG), a leading supplier of specialist connectors to the automotive sector, announces that it has secured a new order for a large number of sample cell contact system modules from the Company's leading EV customer, supplying into the autonomous vehicle industry in the USA. The order reflects the ongoing strength of the relationship between both parties and the significant progress being made by the end user towards commercialisation, having already received the necessary regulatory approvals.

The value of the order is c.£775k, with the majority of the parts expected to be shipped in 2023 and the Company anticipates  next receiving C-sample orders as a result. The order is a strong endorsement of Strip Tinning's offering and underpins the Company's well-established reputation as a supplier of cell contact systems to the fast-growing EV space.

Richard Barton, Group Chief Executive Officer of Strip Tinning, commented:

"We are delighted with the progress our customer is making and the strengthening validation of our critical components. This latest order represents real momentum towards commercialisation for our customer, which in turn gives us renewed confidence in the commercial opportunity for Strip Tinning."  

Enquiries:

Strip Tinning Holdings plc  Via Alma PR

Richard Barton, Chief Executive Officer 

Adam Le Van, Chief Financial Officer

Singer Capital Markets (Nominated Adviser and Sole Broker)  [phone]

Rick Thompson

James Fischer

Alma PR (Financial PR)    [e-mail]

Josh Royston    [phone] 

Joe Pederzolli     

 

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