Car brake firm lands £400,000 order

A firm which specialises in making ceramic brakes for high-performance cars has landed a contract worth £400,000.

The AIM listed Surface Transforms announced the news on the Stock Market this morning

The Knowsley based business issued a statement.

It read: “Surface Transforms is pleased to announce that it has been notified of its selection as a tier one supplier of a carbon ceramic brake disc to a major high performance automotive company – previously described by Surface Transforms as “OEM 1”.

“The company has received the subsequent order, with sales revenue of £400k and expects to deliver the products in the current financial year ending 31 December 2019.

“Specifically, the selection is as the tier one supplier of carbon ceramic discs on a track car.”

Chief executive Kevin Johnson said “We are delighted to win this contract with a new customer for the Company.

“We regard it as a further reference point for our technology and hope that this can be the foundation of a future relationship with this valued and potentially important customer.”

Earlier this year Surface Transforms raised £1.9m in funding with a Stock Market placing.