Coral Products PLC Renewal of contract (1464E)
04 November 2020 - 6:00PM
UK Regulatory
TIDMCRU
RNS Number : 1464E
Coral Products PLC
04 November 2020
4 November 2020
CORAL PRODUCTS PLC
('Coral' or the 'Company' or the 'Group')
Renewal of contract
The Company 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 16 January 2018, the Company is pleased to have won
the tender process for 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 GBP9m will be achieved during the 3-year supply
contract to November 2024.
Tatra Rotalac Limited, which is based in Manchester, provides
bespoke thermoplastic extrusion and moulding solutions across a
number of industries worldwide.
This announcement contains inside information for the purpose of
Article 7 of the EU Regulation 596/2014 and has been arranged for
release by Sharon Tinsley, Finance Director of the Company.
For further information, please contact:
Coral Products plc Tel: 07788 565
Michael (Mick) Wood, Chief Executive Officer 154
Nominated Adviser & Broker Tel: 020 7213
Cairn Financial Advisers LLP 0880
Liam Murray / Sandy Jamieson
David Lawman (Corporate Broking)
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 as a result of new information, future events or
otherwise, save as required by law and regulations.
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END
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