Solid State PLC $3m US Rail Infrastructure Contract

TIDMSOLI

Solid State PLC

30 September 2019

Solid State plc

("Solid State", the "Company" or the "Group")

$3m US Rail Infrastructure Contract

Solid State plc (AIM: SOLI), the AIM listed manufacturer of computing, power and communications products, and value added distributor of electronic components, is pleased to announce an international contract win.

The contract, valued at $3m, has been won by the Group's Pacer Optoelectronics business unit, acquired by Solid State in November 2018. The display project, a rail infrastructure programme in the United States, will utilise Pacer's value added capabilities and is expected to be delivered over the next nine months.

Commenting on the contract Gary Marsh, Chief Executive of Solid State, said:

"This contract is a good example of the success of our acquisition strategy in broadening our international and sector reach. We have focussed on niche sectors where we can apply our value added engineering capability and where we can sell into increasingly international markets. The transportation sector has been a specific target and therefore this success is particularly pleasing."

For further information please contact:

 
 Solid State plc                          01527 830 630 
 Gary Marsh - Chief Executive             [e-mail] 
  Peter James - Group Finance Director 
 
 
 Walbrook PR (Financial PR)               020 7933 8780 
 Tom Cooper / Paul Vann                   0797 122 1972 
                                          [e-mail] 
 

Notes to Editors:

Solid State plc (SOLI) is a value added electronics group supplying industrial and military markets with ruggedised/durable components, assemblies and manufactured units for use in harsh environments. The Group's mantra is - 'Trusted technology for demanding applications'.

Operating through two main divisions: Manufacturing (Steatite) and Value Added Distribution (Solid State Supplies & Pacer); the Group specialises in complex engineering challenges often requiring design-in support and component sourcing for computing, power, communications, electronic and optoelectronic products.

Headquartered in Redditch, Solid State employs over 200 staff across the UK with a branch office in the USA, serving niche markets in oil & gas production, transportation, medical, construction, security, military and field maintenance.

Solid State was established in 1971 and admitted to AIM in June 1996. The Group has grown organically and by acquisition - having made 10 acquisitions.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

NRALRMATMBJTBJL

(END) Dow Jones Newswires

September 30, 2019 02:03 ET (06:03 GMT)