6 August 2012 – contract wins
The company has reported that two design projects for plastic ball bearing assemblies have been converted into orders. One is for a leading US security camera manufacturer and the other is for an Israeli manufacturer of swimming pool equipment. It is expected that these projects will result in additional sales of approximately £0.25m per annum. An important project for a major Korean manufacturer of security cameras is also being accelerated for launch by the end of 2012 year and should contribute approximately £0.25m of sales on an annualised basis. It is good to see further positive news and we retain our BUY rating.