Source: Surface Transforms post
LIVERPOOL, U.K. — Surface Transforms, a manufacturer of carbon-ceramic disc rotors, has reported landing a £20 million contract to be a tier-one supplier to (what is being labeled as) a “major” U.S. auto manufacturer.
According to the company, all terms and conditions of the agreement have been reached, but the information being released at this time is limited to the following:
Surface Transforms will be the tier-one sole supplier of the carbon ceramic brake disc as standard fit on both axles of a new edition to an existing internal combustion engine car.
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The previous model already uses carbon ceramic discs and thus the Surface Transform’s brake disc is replacing the existing supplier.
The lifetime revenue on this specific contract is estimated to be approximately £20 million commencing in mid-2024. Annual revenue is estimated to be approximately £5 million per year from 2025 to 2027 inclusive, with approximately half that sum in 2024 and 2028. The contract is priced in pounds sterling.
The U.S. manufacturer was not named.
“This is a very significant win for Surface Transforms,” said Kevin Johnson, chief executive officer. “The customer is one of the most respected names in the industry and provides a further key reference point for other OEMs.
“The contract win was one of those anticipated in the recent fundraise, and thus remains within our previously stated capacity requirements. We look forward to further extending our relationship with this new customer.
“We look forward to making further contract award announcements over the next few months.”