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Carclo inks ramework agreement with 'major' OEM to make medical diagnostic disposable devices
StockMarketWire.com
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Engineered solutions company Carclo said its technical plastics division had signed a framework agreement with a 'major' OEM to manufacture complex medical diagnostic disposable devices.
The framework agreement enables the award of production contracts to the company's technical plastics division to manufacture a range of products over the next ten years from a number of its facilities.
Tooling contracts related to certain of these products had already been awarded to the company and were expected to 'make a modest contribution to Group performance in the year to 31 March 2021,' the company said.
Production contracts remain subject to a number of conditions including product acceptance and were expected to be awarded in the first half of the year to 31 March 2022.
After an initial ramp-up phase, the company said it expected to reach full production volumes in the second half of FY22.
At full rate production these contracts were expected to deliver incremental annual revenues of between £10m and £15m for the remainder of the contract life, it added.
At 8:10am: (LON:CAR) Carclo PLC share price was 0p at 18.4p
Story provided by StockMarketWire.com
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