New Contract Win

RNS Number : 4254D

AB Dynamics PLC

29 January 2015

 



29 January 2015

AB Dynamics plc
("ABD" or the "Group")

New 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 an order from a customer in South America for a high specification Suspension Parameter Measurement Machine ("SPMM").

The SPMM order is valued at more than £1.7 million. Approximately half of the value of the contract value is expected to be recognised in the Company's current financial year ending 31^st August 2015 and contributes to the Group's sales target for the current financial year. This will be the first SPMM that the company has delivered to South America. The contract provides ABD with further future revenue visibility and highlights the motor industry's continued appetite for the Group's products.

Tim Rogers, Managing Director of AB Dynamics commented:

"The new SPMM provides excellent extended visibility to the Group's future revenues. We are very pleased to have achieved our first major sale in South America, underlying the strength of our position in the global automotive industry and our ability to cultivate markets globally."

For further information please contact: AB Dynamics plc Tim Rogers, Managing Director Tony Best, Chairman	01225 860		200
Cairn Financial Advisers LLP (Nomad)	0207	148	7900
Tony Rawlinson
Avi Robinson
Charles Stanley Securities Limited	0207	149	6000
(Broker)
Dugald J. Carlean
Karri Vuori
Newgate (PR)	0207	653	9850
Tim Thompson
Adam Lloyd
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 60 staff. ABD currently supplies all 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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