Contract win
15 Mayo 2007 - 2:01AM
UK Regulatory
RNS Number:5760W
Centurion Electronics PLC
15 May 2007
Date: 15 May 2007
Immediate Release
Centurion Electronics plc
("Company" or "Centurion")
New Customer Supply Contract
* New Contract Win to supply Audi C6 in China
Centurion Electronics plc, the UK provider of in-car infotainment systems, is
pleased to announce that it has secured a new supply contract with Brunswick New
Technologies Automotive, Germany for the supply of in-car entertainment to Audi
China. This contract win is the second contract of the two expected wins
reported in the trading statement issued on 8th March this year.
This new contract, which has been secured following a two year development
partnership between Brunswick and Centurion, involves the supply of a premium
rear-seat entertainment system, for standard fit on the Audi C6, the
long-wheelbase version of the Audi A6. It is built exclusively for the Chinese
market and is frequently used as a chauffeur-driven saloon. The system comprises
of two 10.2" LCD screens which will be mounted onto the back of the front seats
and the DVD player, integrated within a newly developed leather console
installed within the rear seats, also includes connections for a games console,
iPod and digital camera.
The entertainment systems are expected to be fitted during Q1 of Centurion's
financial year ending September 2008, and start contributing to the Company's
revenues in Q2 of the same financial year.
* Positioned for Market Growth
This new contract has added another prestigious client to Centurion's existing
customer base, all of which are ranked within the top ten Global vehicle
manufacturers by volume. With a wider spread customer base, Centurion is no
longer reliant on any one customer or market region and is now well positioned
for further market growth.
Centurion's product range contains core components and technologies that can be
transferred whilst ensuring that systems are bespoke to specific customer
requirements and brand image. With the addition of this new contract, which saw
the product launched at the recent Shanghai Motor Show and supplying product
into a new market with fast pace economic growth, added to the two other
contract wins announced in February and April this year, the Company anticipates
that turnover for the financial year ended September 2008, will be very
significantly increased.
Commenting on this new supply agreement, Chris Rhodes, CEO at Centurion said:
"We are extremely pleased to have secured this prestigious contract and look
forward to further developing the excellent working relationship that has been
established with Brunswick Automotive. At the time of the Company's
restructuring last year, we launched a plan to de-risk the business by
completing our withdrawal from the retail market, rationalize our supply base,
develop a core component portfolio and broaden our customer base. I am happy to
report that this strategy has been successfully implemented and a secure
foundation for yet further contract acquisitions has been created. Furthermore,
we are now seeing firm signs of a wider distribution of in-car infotainment
systems across all spectrums of the industry."
Enquiries:
Chris Rhodes, Chief Executive Clive Carver
Centurion Electronics plc JM Finn & Co Limited
Tel: +44 (0)1707 386 602 Tel: +44 (0)207 628 9688
Website: www.ceplc.net
This information is provided by RNS
The company news service from the London Stock Exchange
END
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