| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Chamberlin completes C&H restructuring, wins new three-year contract
StockMarketWire.com
|
Chamberlin and Hill Castings said it had won a won a three-year contract to supply components for diesel engine generators commencing in July 2021.
The update arrived as the company said the restructuring of Chamberlin and Hill Castings as well as its integration into the business had been completed in line with expected cost savings.
'C&H has been informed that an existing Tier 1 customer has included the company on a new low volume, high value 5-year programme to manufacture turbocharger bearing housings for a leading luxury sports car manufacturer, with supply commencing early 2022,' the company said.
C&H continued to diversify its customer base, to reduce reliance on the automotive sector, launching an eCommerce operation to design and develop consumer products to be sold via the internet.
'Strong eCommerce growth is expected to come from new product development, including authentic 'retro' household and commercial products from our 130-year design archive, and from extending sales into the global marketplace,' it added.
'Efforts are concentrated on replacing revenue at C&H, following the loss of major contracts at the end of 2020.'
At 10:05am: (LON:CMH) Chamberlin PLC share price was 0p at 11.25p
Story provided by StockMarketWire.com
|
|
|
|
|
|
