Announcement
Solid State PLC : Over $4m Optoelectronics Contract
RNS Number : 0236B
Solid State PLC
05 October 2020
Solid State plc
("Solid State", the "Group" or the "Company")
˃$4m Optoelectronics Contract
Solid State plc (AIM: SOLI), the AIM listed manufacturer of computing, power and communications products, and value added distributor of electronic and optoelectronic components, is pleased to announce the award of a 3 year contract to supply optoelectronic modules to a leading UK instrumentation company. The contract has been awarded to Solid State's Pacer optoelectronics business unit acquired by the Group in November 2018.
The customer is a long standing client of Pacer. Approximately $1.7m will be recognised in the first year of the contract.
John Macmichael, Managing Director of the Value Added Distribution division, said:
"It is particularly pleasing to be announcing this contract with a longstanding customer. It ably demonstrates the resilience of Solid State's revenues and customer relationships, whilst reinforcing the value to the Group of the recent strategic acquisition of Pacer Technologies."
For further information please contact:
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Solid State plc |
Via Walbrook PR |
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Gary Marsh - Chief Executive Peter James - Group Finance Director |
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Walbrook PR (Financial PR) |
020 7933 8780 |
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Tom Cooper / Paul Vann |
0797 122 1972 |
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Analyst Research Reports: For further analyst information and research see the Solid State plc website: https://solidstateplc.com/research/
Notes to Editors:
Solid State plc (SOLI) is a value added electronics group supplying industrial and military markets with ruggedised/durable components, assemblies and manufactured units for use in harsh environments. The Group's mantra is - 'Trusted technology for demanding applications'. To see an introductory video on the Group - https://youtu.be/bp4WfLCEc5Y
Operating through two main divisions: Manufacturing (Steatite) and Value Added Distribution (Solid State Supplies & Pacer); the Group specialises in complex engineering challenges often requiring design-in support and component sourcing for computing, power, communications, electronic and optoelectronic products.
Headquartered in Redditch, Solid State employs over 200 staff across the UK with a branch office in the USA, serving specialist markets in oil & gas production, transportation, medical, construction, security, military and field maintenance.
Solid State was established in 1971 and admitted to AIM in June 1996. The Group has grown organically and by acquisition - having made 10 acquisitions since 2002.
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