Chamberlin PLC Major Contract Win (6344D)
June 22 2023 - 9:03AM
UK Regulatory
TIDMCMH
RNS Number : 6344D
Chamberlin PLC
22 June 2023
22 June 2023
Chamberlin plc
("Chamberlin", the "Company" or the "Group")
Major Contract Win
Chamberlin (AIM: CMH.L), the specialist castings and engineering
group, announces that its castings subsidiary, Chamberlin &
Hill Castings Ltd ("CHC"), has secured a major new contract worth
approximately EUR7.3 million of revenue over an eight-year term
with a leading European automotive industry components supplier.
Under the contract, CHC will supply complex turbo charger bearing
housing castings to the European automotive OEM that will be
utilised in its passenger car engines.
Secured after a rigorous competitive tender process, tooling
production begins in July 2023 and supply of the pre-series sample
production parts will take place throughout the current financial
year. Serial production commences in July 2024 and is expected to
contribute annual revenues of approximately EUR1.1 million.
Kevin Price, Chief Executive of Chamberlin, commented,
"I am delighted to announce this major contract win for our
Walsall foundry. This business win represents a significant step
forward in re-building revenues at Chamberlin and Hill Castings and
securing the long-term future order book. This contract strengthens
our position as Europe's leading supplier of grey iron castings to
the Automotive turbo charger market."
Enquiries:
Chamberlin plc T: 01922 707100
Kevin Price, Chief Executive Officer
Alan Tomlinson, Finance Director
Cenkos Securities plc (Nominated Adviser T: 020 7397 8900
and Joint Broker)
Katy Birkin
Stephen Keys
George Lawson
Peterhouse Capital Limited (Joint Broker) T: 020 7469 0930
Lucy Williams
Duncan Vasey
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the UK version of the EU Market Abuse Regulation (2014/596) which
is part of UK law by virtue of the European Union (Withdrawal) Act
2018, as amended and supplemented from time to time.
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END
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