Contract wins

RNS Number : 3269J

Plastics Capital PLC

06 August 2012

 



   Plastics Capital plc

(The "Group")

Contract wins

Plastics Capital plc (AIM: PLA), the niche plastics products group, announces new contract wins worth approximately £0.5m on an annualised basis.

Two design projects for plastic ball bearing assemblies have been successfully converted into orders. The first is for a leading US security camera manufacturer and the other is for an Israeli manufacturer of swimming pool equipment.  It is expected that these projects will deliver incremental annualised sales of approximately £0.25m.

In addition, an important project for a major Korean manufacturer of security cameras is being accelerated for launch by the end of this calendar year and should contribute approximately £0.25m of sales on an annualised basis.

Commenting, Faisal Rahmatallah, Executive Chairman, said:

"Our OEM customers are continuing to invest in new products and product enhancements despite the poor macroeconomic backdrop, so generating additional demand for the specialist bearing assemblies that we design and manufacture."

Plastics Capital plc                                                                                          Tel: [phone]

Faisal Rahmatallah, Executive Chairman

Nick Ball, Finance Director

Cenkos Securities                                                                                            Tel: [phone]

Stephen Keys

Adrian Hargreave

Walbrook PR Ltd                                                                                              Tel: [phone]

Paul Cornelius                        Mob: [phone] or [e-mail]

Helen Westaway               Mob: [phone] or [e-mail]

Notes to Editor

Plastics Capital is a consolidator of plastics products manufacturers focused on proprietary products for niche markets.  The Group has four factories in the UK, one in Thailand and sales offices in the USA, Japan, China and India.  Approximately 62 per cent of sales are exported to over 70 countries worldwide.  Production is concentrated in the UK where significant engineering know-how and automation underpins the Group's competitiveness.  The Group has approximately 300 employees.

Further information can be found on www.plasticscapital.com

 

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