A Merseyside maker of carbon ceramic brake discs for high performance cars has raised £18m in a new share placing to fund an expansion of its production facilities.
Surface Transforms (ST) is based in Knowsley and is listed on the London Stock Exchange’s Alternative Investment Market. In 2020 the business secured two major contracts that it says will be “transformational” for future revenues.
They included a “game-changing” £27.5m deal with an unnamed global vehicle maker. Revenue for the the year to December 31, 2020, came in at £2m, a small increase on the £1.9m generated in 2019. However, the new deals could see that figure soar to £20m in 2021 eventually rising to £75m a year in the next few years.
Surface Transforms plc (LON:SCE) are experts in the development and production of carbon-ceramic materials and the UK’s only manufacturer of carbon-ceramic brakes for automotive use.
