Coral Products
plc
("Coral",
the "Company" or the "Group")
Renewal of
Contract
Coral Products plc, a group of
specialist businesses in the design, UK manufacture and
omni-channel supply of a wide range of bespoke plastic products
based in Wythenshawe, Manchester, announces that Tatra Rotalac
Limited, a wholly owned subsidiary of the Group, has been awarded
the renewal of a 3-year supply contract ("Contract") with a major
international telecommunications group.
Following the previous renewal of
this Contract, which was announced on 4 November 2020, the Company
is pleased to have secured the renewal of this Contract against a
competitive international tender process.
As is standard in this type of
contract, it does not guarantee any sales volumes, however the
Company anticipates, based on historic volumes under the existing
arrangements, that aggregate turnover of circa £12m - £15m will be
achieved during the 3-year supply contract to March
2028.
Tatra Rotalac Limited, which is
based in Manchester, provides bespoke thermoplastic extrusion and
injection moulding solutions across a number of industries
worldwide.
The information contained within
this announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU)
No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018 ("UK MAR"). The Directors of
the Company take responsibility for this announcement.
For
further information, please contact:
|
Enquiries:
|
www.coralproducts.com
|
Tel:
|
|
|
|
|
|
Coral Products plc
Joe Grimmond
|
Non-Executive Chairman
|
07703 518 148
|
|
|
|
|
|
Cairn Financial Advisers LLP
Sandy Jamieson / Ludovico
Lazzaretti
|
NOMAD and Broker
|
020 7213 0880
|
Caution regarding forward looking statements
This announcement contains unaudited
information and forward-looking statements that are based on
current expectations or beliefs, as well as assumptions about
future events. These forward-looking statements can be identified
by the fact that they do not relate only to historical or current
facts and undue reliance should not be placed on any such statement
because they speak only as at the date of this document and are
subject to known and unknown risks and uncertainties and can be
affected by other factors that could cause actual results, and
Coral's plans and objectives, to differ materially from those
expressed or implied in the forward-looking statements. Coral
undertakes no obligation to revise or update any forward-looking
statement contained within this announcement, regardless of whether
those statements are affected because of new information, future
events or otherwise, save as required by law and
regulations.
