Curated News
By: NewsRamp Editorial Staff
May 01, 2024
Strip Tinning Reports 2023 Results, Eyes Major Growth with New Automotive and EV Technologies
TLDR
- Strip Tinning achieved a revenue of £10.8 million in 2023, with significant new orders to fuel future growth.
- The company started by manufacturing copper strips for automotive demisters, then expanded into producing specialized connectors for car glazing systems and battery packs for electric vehicles.
- The company's expansion into Battery Technologies division shows a commitment to supporting the burgeoning electric vehicle market, contributing to a cleaner, more sustainable future.
- Strip Tinning's evolution from manufacturing copper strips to producing specialized connectors for automotive glass and electric vehicles showcases a fascinating journey of growth and adaptation.
Impact - Why it Matters
The reader should care about this news because it showcases the successful transformation and diversification of a long-standing company to adapt to the evolving automotive industry, particularly the electric vehicle market. This impacts the industry and consumers by providing new technological advancements in automotive glass and battery technologies, ultimately contributing to the shift towards sustainable transportation.
Summary
Strip Tinning Holdings PLC executive chairman Adam Robson discussed the company's 2023 financial year, highlighting robust progress and a significant diversification of product offerings. The company's expansion into the Battery Technologies division, targeting the electric vehicle (EV) market, marked a pivotal year, with a recent capital raise positioning the company for potential sales doubling over the next three years.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Strip Tinning Reports 2023 Results, Eyes Major Growth with New Automotive and EV Technologies
