Solid State inks three-year contract extension with defence technology customer

Solid State

235.00p

17:15 01/11/24

2.17%

5.00p

Electronic component manufacturer Solid State's value-added supplies division has secured a three-year contract renewal with an unnamed "global defence technology customer" to supply components for its defence aerospace programme.

Electronic & Electrical Equipment

9,460.79

17:14 01/11/24

0.64%

60.43

FTSE AIM All-Share

739.00

16:54 01/11/24

n/a

The AIM-listed group said on Monday that the contract, which had been awarded following the successful completion of an initial three-year contract awarded to Solid State Supplies, would add approximately $800,000 to its open order book in the first year, with a total value of $4.56m to be realised over its duration as staged delivery dates were confirmed.

Managing director John Macmichael said: "The renewal contract with this longstanding customer, who is very well-respected in its sector, is a testament to Solid State's emphasis on good customer relationships and the market-leading nature of our value-added products."

As of 1000 BST, Solid State shares were up 1.70% at 895.0p.