Business
C. £1.5m Automotive contract win
C. £1.5m Automotive contract win.
About this update from Aurrigo International Plc
[{"type":"text","content":"\n\n30 July 2024\nRNS Reach\nAurrigo International plc\n(\"Aurrigo\", \"the Group\" or the \"Company\")\nC. £1.5m Automotive contract win\nCore business contract win provides increasing revenue visibility\n \nAurrigo International plc (AIM: AURR, the \"Company\" or \"Aurrigo\"), a leading international provider of smart airside solutions and automotive products, is pleased to announce its Automotive division has secured an additional c.£1.5m European export contract (\"the contract\") with an existing global automotive manufacturing customer.\n \nThe contract will see the Group supply wiring harnesses to the customer over the course of approximately 2.5 years, with production expected to start in H2 2025. The contract was won, following a competitive tender process, thanks to both the strong existing relationship with the customer and a recognition of the Group's product quality and on time delivery performance.\n \nThe contract, which will be delivered at positive net margin for the Company, does not change management's financial expectations going forward, but provides further visibility in the forecasts of the business.\n \nDavid Keene, CEO of Aurrigo, commented: \"We are delighted to announce this contract win with a major global automotive manufacturer, demonstrating our automotive expertise and ability to tailor the manufacture of complex systems to suit our clients' needs - skills we are also leveraging in our designs for our smart airside solutions. Our UK leading Automotive division continues to grow organically, underpinning the overall Group's performance.\" \n \nContacts:\n\n\n\n\nAurrigo International plc\nDavid Keene, Chief Executive Officer\nIan Grubb, Chief Financial Officer\n\n\n+44 (0)2476 635818\n\n\n\n\nCanaccord Genuity (Nominated Adviser and Sole Broker)\nAdam James\nHarry Pardoe\n \n\n\n+44 (0)20 7523 8000\n \n\n\n\n\nAlma Strategic Communications\nHilary Buchanan\nCaroline Forde\nWill Ellis Hancock\n \n\n\n+44(0)20 3405 0205\n\n\n\n\nCucumber PR\nRuss Cockburn\n\n\n+44 (0)78 1260 0271\n\n\n\n\n \nNotes to Editors:\nAurrigo International plc is an international designer and developer of fully integrated smart airside solutions for the aviation industry, including automated vehicles, systems and software.\n \nThe Group's proprietary, award-winning auto...