25
April 2024
Strip Tinning Holdings
plc
("Strip
Tinning" or the Company")
Record "Smart" Glass
Nomination
Further major win in
fast-growing "smart" glass segment, with an expected lifetime value
of £12.3m
Strip Tinning Holdings plc (AIM:
STG), a leading supplier of specialist connection systems to the
automotive sector, is pleased to announce the receipt of a further
record Glazing nomination, from a leading European automotive Tier
1 systems manufacturer.
The glazing panels will be supplied
to one of the premier German car OEMs and will be deployed across a
new EV vehicle range.
Under the terms of the nomination,
supply will start in Q3 2026 and run until 2031, with forecasted
annual sales value peaking at £2.8 million and an expected lifetime
value of £12.3 million, which increases by 46% the total lifetime
sales value of Strip Tinning's Connectors nominations, from £26.8
million to £39.1 million[1]. The
total lifetime sales value of all nominations held by the Company
is now £52.7 million.
This nomination is the fourth which
Strip Tinning has received in the "smart" glass market, a rapidly
expanding segment of the automotive glazing market. Having
identified Polymer Dispersed Liquid Crystal (PDLC) technology roof
glass as a substantial growth opportunity for the Company,
significant investment was made into "smart" glass production
capabilities.
This win, in addition to the three
previous "smart" glass nominations, further demonstrates the
Company's first mover advantage within this growing market segment.
The Company is now supplying smart roofing connectors to all the
leading German automotive OEMs, underlining Strip Tinning's
position as the supplier of choice for specialist connectors to the
Glazing sector.
Adam Robson, Executive Chair of Strip Tinning,
commented:
"We are proud to now be the preferred supplier of "smart"
glass connectors to all the leading German OEMs, having been
supplying these specialist connectors for two years. The further
momentum we are now gaining is thanks to our first mover advantage
within this market segment.
It
is clear that the well-documented shift of the automotive sector
towards EV production is not only opening doors for our EV battery
cell contact systems division, but is also propelling our Glazing
business, as exemplified by not only this win, but also our three
prior "smart" glass nominations, both of which are within the EV
market.
Looking ahead, we are confident there will be further
opportunities within the "smart" glass sector and we continue to
anticipate a significant new Cell Contact System win for our EV
division in H1."
The person responsible for arranging
the release of this information on behalf of the Company is Adam Le
Van, Chief Financial Officer.
Enquiries:
Strip Tinning Holdings plc
Via Alma
Adam Robson, Executive
Chairman
Richard Barton, Chief Executive
Officer
Adam Le Van, 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