Surface Transforms (SCE)

Sector:

Engineering

Index:

FTSE AIM All-Share

 36.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 57.50
  • 52 Week Low: 34.75
  • Currency: UK Pounds
  • Shares Issued: 240.61m
  • Volume: 0
  • Market Cap: £86.62m
  • RiskGrade: 375

Surface Transforms selected as tier-one brake disc supplier

By Josh White

Date: Thursday 02 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Carbon fibre-reinforced brake disc manufacturer Surface Transforms has been notified of its selection as a tier-one supplier of a carbon ceramic brake disc to its existing mainstream customer, it announced on Thursday, which it previously described as 'OEM 5'.
The AIM-traded firm said prototype orders had been received, and were now being fulfilled.

All terms and conditions were carried over from the master purchase agreement with the customer, which was signed in mid-2019.

The car involved is a "facelift" to an existing internal combustion engine model, with start of production in the first quarter of 2024, with its brake discs to be fitted as an option to the front axle.

Surface Transforms said the lifetime value of the contract was expected to be around €5m, spread over the five years from 2024 to 2028.

The contract would not have a significant impact on Surface Transforms' production capacity, the board said, as it was part of the expectations it outlined at its February fundraising.

However, separately it had been reviewing its manufacturing capacity strategy, with a view to both reducing timescales and costs.

"The significance of this relatively small contract lies in it being the first example of the implementation of the multi-year 'carry-over' agreement concluded with OEM 5 at the time of the initial contract award in July 2019," said chief executive officer Kevin Johnson.

"This envisaged further awards, of varying sizes, over several years."

A further award in 2020 did not happen, Johnson said, because of a Covid-19-induced programme cancellation by the customer.

"It is good to be back on track.

"The engineers in both companies are now working on the next vehicle brake disc that is available for award over the next year."

At 1531 BST, shares in Surface Transforms were up 5.16% at 68.88p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

SCE Market Data

Currency UK Pounds
Share Price 36.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 57.50
52 Week Low 34.75
Volume 0
Shares Issued 240.61m
Market Cap £86.62m
RiskGrade 375

SCE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
22.24% below the market average22.24% below the market average22.24% below the market average22.24% below the market average22.24% below the market average
58.82% below the sector average58.82% below the sector average58.82% below the sector average58.82% below the sector average58.82% below the sector average
Price Trend
65.41% below the market average65.41% below the market average65.41% below the market average65.41% below the market average65.41% below the market average
72.22% below the sector average72.22% below the sector average72.22% below the sector average72.22% below the sector average72.22% below the sector average
Income Not Available
Growth
3.59% below the market average3.59% below the market average3.59% below the market average3.59% below the market average3.59% below the market average
21.21% above the sector average21.21% above the sector average21.21% above the sector average21.21% above the sector average21.21% above the sector average

SCE Dividends

No dividends found

Trades for --2023

Time Volume / Share Price
0 @ 0.000p

SCE Key Personnel

CEO Kevin Johnson
Finance Director Michael Cunningham

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