Business
Warwick Acoustics secures major contract
Warwick Acoustics secures major contract.
About this update from Mercia Asset Management Plc
[{"type":"text","content":"\n\nRNS Reach 7 June 2023\nMercia Asset Management PLC\n \n(\"Mercia\" the \"Company\" or the \"Group\")\n \nWarwick Acoustics secures major automotive contract\n \nMercia Asset Management PLC (AIM: MERC), the proactive, regionally focused specialist asset manager with c.£1.4billion of assets under management, is pleased to announce that Warwick Acoustics Limited (\"Warwick Acoustics\") has secured its first production contract with a leading global luxury vehicle manufacturer.\n \nThe multi-year contract is with a global top 10 luxury manufacturer and is a major milestone for Warwick Acoustics, validating the performance and scalability for its proprietary automotive audio system, which is based on electrostatic transducers. The contract will initially be for two vehicle programs and will be delivered via a significant expansion of Warwick Acoustics' design, development and manufacturing capabilities.\n \nWarwick Acoustics' automotive audio systems, based on its patented ElectroAcoustic panels, give vehicle owners an outstanding audiophile experience, while enabling vehicle manufacturers to benefit from an audio system that is significantly lighter in weight than is traditionally found in vehicles. Warwick Acoustics' ElectroAcoustic panels also use less energy, do not require rare earth materials and can be easily recycled at the end of a vehicle's life; key attributes as the automotive industry transitions to electric vehicles and increases its focus on environmental sustainability.\n&...