CMH Chamberlin Plc

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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June 22, 2023 09:03 ET (13:03 GMT)

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