Solid State PLC Over $4m Optoelectronics Contract
October 05 2020 - 2:00AM
RNS Non-Regulatory
TIDMSOLI
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:
Solid State plc Via Walbrook PR
Gary Marsh - Chief Executive investor.information@solidstateplc.com
Peter James - Group Finance Director
Walbrook PR (Financial PR) 020 7933 8780
Tom Cooper / Paul Vann 0797 122 1972
solidstate@walbrookpr.com
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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END
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