Strip Tinning Holdings PLC on Tuesday said it reached an important milestone as its German customer proceeded with an order for its C-samples.
The Birmingham-England based supplier of specialist connection systems to the automotive sector said its unnamed German customer placed an order valued at $780,000 for its C-samples, which it said covers the supply of the cell contact system for battery back modules.
Shares in Strip Tinning were up 1.8% at 28.00 pence on Tuesday morning in London. In early trading its shares surged 27% to 35p.
Strip Tinning said the unnamed customer is a leading tier 1 supplier of automotive motion technology to the US-based autonomous vehicle programme.
It added that the US vehicles manufacturer is owned by ‘one of the world’s largest corporations’ and is running trials on public roads in three US cities.
Strip Tinning said the major nomination win was first announced in June last year and has an expected lifetime value of £43.0 million.
Executive Chair Adam Robson said: ‘We are pleased to have reached this next important milestone as we, our customer, and the vehicle [original equipment manufacturer] prepare for the start of production in 2026.’
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