REG - Strip Tinning Hldgs - Update on Battery Technologies Nomination

Strip Tinning HoldingsAnnouncement

11/02/2025 07:15

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RNS Number : 5862W  Strip Tinning Holdings PLC  11 February 2025

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.co
(mailto:striptinning@almastrategic.co) m

Josh Royston
 
                                   +44 (0) 20 3405
0205

Joe Pederzolli
 

 

 

 

 

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