Significant New “Smart” Glass Nomination

Strip Tinning Holdings PLC

02 April 2024

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered in the public domain.

02 April 2024                           

Strip Tinning Holdings plc

("Strip Tinning" or the Company")

Significant New "Smart" Glass Nomination

Largest ever Glazing nomination, with a lifetime value of £6.3million

Strip Tinning Holdings plc (AIM: STG), a leading supplier of specialist connection systems to the automotive sector, is pleased to announce the receipt of the largest Glazing nomination in the Company's history, from a leading European automotive Tier 1 systems manufacturer.

Under the terms of the nomination, supply will start in Q3 2025 and run until 2035, with forecasted annual sales value peaking at £0.9 million and an expected lifetime value of £6.3 million, which increases by 31% the total lifetime sales value of Strip Tinning's Connectors nominations, from £20.5 million to £26.8 million[1].  The total lifetime sales value of all nominations held by the company is now £40.4 million.

The nomination is for the supply of an advanced connector to be used within a Polymer Dispersed Liquid Crystal (PDLC) technology roof glass. The glazing panels will be supplied to one of the premier German car OEMs and will be deployed across a number of prestige EV and ICE vehicles in their range.

This is the second nomination that Strip Tinning has received in the rapidly growing new "smart" glass market segment, in which electrically activated layers within sunroofs, roof systems, windows, and visors turn car glass into a dynamically adjustable and responsive light-management system. The connector benefits from being built around flexible printed circuits (FPC) which give weight and packaging advantages within the vehicle roof space. 

Strip Tinning has had early success in the new PDLC market segment, and since Q4 2022 has been supplying glazing connectors for the panoramic roofs of the fully electric BMW iX vehicles. Resultantly, and as demonstrated by this latest win, the Company continues to benefit from first mover advantage within this space.  The Company is well placed for further successes, possessing in-house FPC manufacturing capabilities as well as the required engineering know-how to satisfy increasing customer demand for more complex connector solutions.

A substantial pipeline of opportunities across each of the Glazing and EV Battery Pack divisions remains, and Strip Tinning is confident of securing further significant nominations in the first half of 2024.

Adam Robson, Executive Chair of Strip Tinning, commented:  

"The increasing number of opportunities we are seeing across our Glazing division is inextricably linked to the transition to EV, as demonstrated by this latest win within the "smart" glass market segment, with production parts set to be deployed across a number of prestige EV and ICE vehicles.

Securing this record nomination in the rapidly growing "smart" glass market segment exemplifies our strong market positioning, as well as the growth we are seeing across the business. The order book across both the EV Battery Systems and Glazing divisions continues to build and we remain focused on converting our considerable sales pipeline."

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)                             [phone]

Rick Thompson

James Fischer

Alma (Financial PR)                                                                                               [e-mail]

Josh Royston                                                                                                                     [phone]       

Joe Pederzolli                                                                                   

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[1] Note: Calculated at €/£ exchange rate of 1.17

 

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