Surface Transforms PLC
15 November 2005
To be embargoed until 7.00am
15 November 2005
Surface Transforms Plc
('Surface Transforms' or 'the Company')
Award of £200,000 Research & Development Grant
Surface Transforms plc, manufacturers of carbon fibre reinforced ceramic (CFRC)
materials, is pleased to announce the award of a Grant for Research and
Development from the English Northwest Development Agency.
The Grant has a maximum value of £200,000 and the development project is
required to be completed by November, 2008.
The purpose of the Grant is to enable the Company to develop a lower cost
approach to the manufacturing processes, for the company's lightweight, CFRC
brake system for automotive applications. CVIST, MIST and ST Preforms are trade
names for the key process technologies in the Company's patented manufacturing
process.
Once the project is completed, the Company expects to benefit not only from
lower unit cost of a brake disc, but also from shorter process times, which in
turn will help to reduce the levels of inventory required. Another key benefit
is that the Company will be better positioned to provide turnkey solutions to
third parties wishing to license the technology.
Current automotive brake disc capacity at Surface Transforms is approximately
3000 brake discs per annum.
Dr.Kevin Johnson, Managing Director of Surface Transforms plc, said:
'The grant from the Northwest Development Agency is most welcome as it is
focused on advancing brake disc technology which I believe is unique in the UK.
Furthermore, the knowledge acquired through developing a lower cost
manufacturing process will make it considerably easier for Surface Transforms
to license its proprietary technology to European and US automotive car and
brake system manufacturers.'
For enquiries, please contact:
Surface Transforms plc John East & Partners Limited(Nomad)
Dr. Kevin Johnson 0151 373130 Johnny Townsend, Simon Clements
Mr. Kevin D'Silva 07802 306956 0207 628 2200
Teather & Greenwood(Broker)
Mark Dickenson, Sindre Ottesen
0207 426 7775
Details of the Company's business and financial performance and its share price
can be found on www.armshare.com which is accessed from the Armshare icon on
www.surface-transforms.com.. A webcast of the 2005 results is also available on
www.surface-transforms.com /Investor and Media relations .
This information is provided by RNS
The company news service from the London Stock Exchange