Major Contract Win

RNS Number : 2481X

Chamberlin PLC

18 November 2014

 



AIM: CMH

CHAMBERLIN plc

("Chamberlin" or "the Company")

Major Contract Win

Chamberlin, the specialist foundry and engineering group, announces that it has secured a major new contract worth €26.0 million over an eight year term with a leading European automotive industry components and parts supplier. Secured after a rigorous competitive tender process, the contract commences on 1 January 2015 and is expected to contribute initial revenues of €1 million over the period to 31 March 2016. As it replaces a number of mature programmes at Walsall for the same customer, the additional revenue benefit is expected to become more evident in financial year to 31 March 2017 and beyond. 

Chamberlin's light castings foundry in Walsall will supply sixteen different components for turbo charger bearing housings for passenger car diesel engines. The technical castings will be supplied to numerous sites in the UK and mainland Europe.

Kevin Nolan, Chief Executive of Chamberlin, commented,

"I am delighted to announce this major contract win for our Walsall foundry. This business win confirms that the previous restructuring and import of new talent is delivering the service our global customers demand. We will continue to further develop our core competencies in order to secure our long term future."

Enquiries

Chamberlin plc (www.chamberlin.co.uk) Kevin Nolan, Chief Executive David Roberts, Finance Director		T: 01922 707100
Charles Stanley Securities (Nominated Adviser and Broker) Russell Cook / Carl Holmes		T: 020 7149 6000
KTZ Communications (Financial PR) Katie Tzouliadis / Deborah Walter		T: 020 3178 6378

 

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