Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Birmingham Post
Birmingham Post
Business
Jon Robinson

Aston Martin Valkyrie helps revenue accelerate 240% at major supplier

The Aston Martin Valkyrie helped sales surge by 240% at one of the luxury car maker's major suppliers.

Liverpool-headquartered Surface Transforms has confirmed its revenue hit £2.9m in the six months to the end of June this year, up from the £1.2m it reported for the same period in 2021.

The company, which makes ceramic brake discs for supercars, also counts McLaren as one of its key customers.

READ MORE: Group owned by one of the world's richest men snaps up Boohoo shares

A statement issued to the London Stock Exchange said: "The company's prospective contract pipeline has led to a series of new contract announcements bringing its lifetime contract value to over £180m.

"Furthermore, the company continues to work with new and existing OEM [original equipment manufacturer] customers and anticipates further contract awards in the second half of the year.

"The production issues reported at the year-end have been resolved and the company has spent the subsequent period increasing output on all the machines and furnaces.

"The board is satisfied with the current status; all arrears have been cleared and we can meet the immediate demand requirements of all customers.

"The second phase of the plant expansion which significantly increases capacity and builds resilience into our manufacturing processes is progressing well with completion still expected in H1 2023.

"As previously announced in September 2021, the company has implemented a revised manufacturing strategy that increases installed capacity from the phase 1 £20m sales capacity to £50m sales capacity without the need for extra capital expenditure."

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.