Contract Win

RNS Number : 3030R

AB Dynamics PLC

14 June 2018

 

AB Dynamics plc

("ABD" or the "Company")

Contract win

AB Dynamics plc (AIM: ABDP) the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive industry, is pleased to announce that it has received its first order for an advanced vehicle driving simulator (aVDS).

The aVDS order, placed by a Chinese test house is valued at more than £2.0m with delivery expected in early 2019. Most of the value of the contract is expected to be recognised in the Company's next financial year commencing 1 September 2018.

Tony Best, Chairman of AB Dynamics commented:

"Following more than 2 years of development work in conjunction with Williams Advanced Engineering we are very pleased to have achieved our first sale of the aVDS.  This new line of product will underpin and strengthen our position supplying test equipment to the global automotive industry."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 and has been arranged for release by Robert Hart, Chief Financial Officer of the Company.

For further information please contact:

AB Dynamics plc Tony Best, Chairman Rob Hart, Chief Financial Officer	01225 860 200
Cairn Financial Advisers LLP (Nomad) Tony Rawlinson Liam Murray Richard Nash	0207 213 0880
Cantor Fitzgerald Europe (Broker) David Foreman Phil Davies	0207 894 7000
IFC Advisory (PR) Tim Metcalfe Heather Armstrong Graham Herring	0203 053 8671

Overview of AB Dynamics plc

ABD is a leading designer, manufacturer and provider of advanced testing and measurement products for vehicle suspension, brakes and steering to the global automotive research and development sector. The Group was founded in 1982 and listed on AIM in May 2013. The Group is headquartered in Bradford on Avon employing approximately 140 staff. ABD currently supplies twenty of the top twenty automotive manufacturers, including Honda, Toyota, Ford and Volkswagen, who routinely use the Group's products to test vehicle safety and dynamics.

 

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