Business
Business Update
Business Update.
About this update from Ab Dynamics Plc
[{"type":"text","content":"\n \nRNS Number : 1914I AB Dynamics PLC 01 July 2013 \n \n\n \n1 July 2013\n \nAB Dynamics plc(\"ABD\" or the \"Group\" )\n \nBusiness Update\n \nAB Dynamics plc (AIM: ABDP), the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive industry, is pleased to announce the signing of two significant contracts which provide the Company with strong forward visibility for the year ended 31 August 2014.\n \nThe first contract is with the Motor Industry Research Association (\"MIRA\") which has confirmed an order for a new four wheel Suspension Parameter Measurement Machine (\"SPMM\"). Manufacture of the SPMM will commence immediately with delivery expected in summer 2014. An SPMM's contract value depends on the options purchased; it is typically more than £1.5 million.\n \nThe order is the third of three recent SPMM orders that will contribute to the Company's budgeted turnover for the next financial year commencing on 1 September 2013. This order is particularly pleasing and a further endorsement of the Company's capabilities, as MIRA is a long term repeat customer having purchased the Company's first SPMM in 1995. This latest platform will provide MIRA with significantly advanced capabilities enabling them to test larger vehicles than before, together with the ability to measure moments of inertia and centre of gravity. The new rig represents a significant upgrade in performance when compared to the 1995 model.\nThe Company is also pleased to announce its first order for its latest guided soft crash target vehicle (\"GSTV\"). The order has been placed by a German automotive safety group and design is in progress with delivery expected in H1 2014. The total order value (which includes a package of additional testing equipment) is approximately £400,000 which is expected to be recognised in the next financial year ending 31 August 2014. The GSTV is an alternative version of ABD's existing soft crash target vehicle (SCTV), enabling higher speed collisions of up to 110km/h.\n \nTim Rogers, Managing Director of AB Dynamics commented: \"Current trading for 2013 continues to be in line with the company's expectations and these two contracts add excellent visibility to next year's revenues. We are delighted that MIRA has endorsed o...