Business
Major Bearings Projects Update
Major Bearings Projects Update.
About this update from Synergia Energy Ltd
[{"type":"text","content":"\n \nRNS Number : 1424M Plastics Capital PLC 14 July 2014 \n \n\n14 July 2014\n \n \n \nPlastics Capital plc\n(\"Plastics Capital\" or the \"Group\")\n \nMajor Bearings Projects Update\n \nPlastics Capital (AIM: PLA), the niche plastics products group, announces that it has successfully converted a major design project in its plastic bearings division.\n \nThe conversion of the design project and the tooling order now received represents a major commitment from a tier one automotive manufacturer for the production of tooling which will lead to the supply of lower steering column bearings over a 7 to 10 year period. High volume production is expected to commence in the first half of the next financial year. Sales are expected to reach more than £0.5m on an annualised basis and lifetime sales for the project are expected to be in excess of £4.0m.\n \nCommenting, Faisal Rahmatallah, Executive Chairman, said: \n \n\"This major project win is indicative of what we can achieve in the bearings division with a number of large opportunities that are currently with our design engineering team. It is particularly significant as conversion of these major projects will drive significant revenue and profit growth over the long term in this division. We anticipate that other major projects of similar scale will convert in this division during the next 12 months. \"\n \n\n\n\n\nPlastics Capital plc\n\n\nTel: 020 7978 0574\n\n\n\n\nFaisal Rahmatallah, Executive Chairman\n\n\n\n\n\n\n\nNick Ball, Finance Director\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCenkos Securities\n\n\nTel: 020 7397 8900\n\n\n\n\nStephen Keys\nMark Connelly\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAllenby Capital Limited\n\n\nTel: 020 3002 2074\n\n\n\n\nKatrina Perez\n\n\n\n\n\n\n\nKelly Gardiner\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nWalbrook PR Ltd\n\n\nTel: 020 7933 8780/[email protected]\n\n\n\n\nPaul Cornelius\n\n\nMob: 07866 384 707\n\n\n\n\nHelen Cresswell\n\n\nMob: 07841 917 679\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\nNotes to Editors\nPlastics Capital is a consolidator of plastics products manufacturers focused on proprietary products for niche markets. The Group has four factories in the UK, one in Thailand, two in China and sales offices in the USA, Japan, China and India. Approximately 60 per cen...