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Strip Tinning Holdings PLC - Birmingham-based electrical connectors provider for automotive sector - Wins a new order from an unnamed electric vehicle customer, worth about £775,000. Says it is for a large number of sample cell contact system modules, which will supply into the the autonomous vehicle industry in the US. Expects the majority of the parts to be shipped in 2023, and to receive C-sample orders as a result.
Chief Executive Officer Richard Barton says: ‘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.’
Current stock price: 53.50 pence each, up 19% on Monday late morning in London
12-month change: down 65%
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