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