11 February
2025
Strip Tinning Holdings
plc
("Strip
Tinning" or the Company")
Update on Battery
Technologies Nomination
$780,000 C Sample order
received on schedule
Strip Tinning Holdings plc (AIM:
STG), a leading supplier of specialist connection systems to the
automotive sector, is pleased to confirm that its customer, a
leading German Tier 1 supplier of automotive motion technology to
the US based autonomous vehicle programme, has now placed an order
for the C-samples as planned. The US vehicle
manufacturer is wholly owned by one of the world's largest
corporations and is currently running trials on public roads in
three US cities.
The order, valued at $780,000,
covers the supply of the Cell Contact System (CCS) for the
vehicle's battery pack modules.
This major nomination win, with an
expected lifetime value of £43.0 million, was first announced on 6 June 2024.
In December, in response to customer requests for added
functionality into the product designs, the Company announced
revised prices had now been agreed with the customer for this
programme which increased the expected lifetime value to £56.8
million, with likelihood of further volumes which would potentially
increase the final lifetime value to £60.0 million.
Adam Robson, Executive Chair of Strip Tinning,
commented:
"We are pleased to have reached this next important milestone
as we, our customer, and the vehicle OEM prepare for the start of
production in 2026."
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
