Solid State plc, the Redditch-based high value manufacturer of computing, power and communications products, and distributor of electronic and optoelectronic components, has been awarded a three year contract to supply optoelectronic modules to a leading UK instrumentation company.
The contract has been awarded to Solid State’s Pacer optoelectronics business unit acquired by the Group in November 2018. The customer is a long standing client of Pacer. Approximately $1.7m will be recognised in the first year of the contract.
John Macmichael, Managing Director of Solid State’s Value Added Distribution division, said: “It is particularly pleasing to be announcing this contract with a longstanding customer. It ably demonstrates the resilience of Solid State’s revenues and customer relationships, whilst reinforcing the value to the Group of the recent strategic acquisition of Pacer Technologies.”
Solid State revealed in August that trading has been ahead of management expectations, while orders in the first few months were down just under 15 per cent compared to last year, by the end of July 2020, orders for the four month period had improved, being down seven per cent on a like-for-like basis compared to last year.
Solid State employs more than 200 staff across the UK with a branch office in the USA, serving specialist markets in oil and gas production, transportation, medical, construction, security, military and field maintenance.