27 April 2023 - new contract
The supplier of critical power and data transmission products has won a contract to supply Electric Vehicle power products to a leading North American-based automotive manufacturer. These will be produced by Volex's manufacturing facility in Tijuana, Mexico and annualised revenues are expected to be in excess of US$30m. Full production is not expected to begin until 2024, but the contract win is an endorsement of of the company's capability in the sector. We only recommended the shares recently and we maintain our recommendation of BUY.
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