StockMarketWire.com - Surface Transforms said it had been selected as a tier-one supplier of a carbon ceramic brake disc to a 'major German automotive company'.

Pursuant to the selection, Surface Transforms said it had received an order for the production tooling.

The final stage of the selection process was the signing of a master purchase agreement, which was anticipated to take approximately four-to-eight weeks to finalise.

Surface Transforms said it would be the sole supplier of the brake disc option on one axle of a new edition of an existing well-known model of the company.

The lifetime revenue on the specific car model contract was estimated to be around €11.8m commencing in October 2021.

Annual revenue was estimated to be around €2.0m per year before tapering off during 2026.

The commercial understanding also embraced the opportunity to be selected for further multiple vehicle platforms in the customer's portfolio over time, the company said.



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