
London Stock Exchange Welcomes Strip Tinning Holdings plc to AIM
The London Stock Exchange today welcomes Strip Tinning (AIM: STG), a Birmingham-based leading supplier of specialist connectors to the automotive sector, founded in 1957. The Company has successfully raised £8 million through a primary placing and £3.5 million through a secondary placing. Upon admission the market capitalisation of Strip Tinning will be £28.0 million.
The Group’s Board and senior management team, led by CEO Richard Barton, has over 100 years’ of combined experience in the global connectors market and the automotive industry. The Company consists of two business lines; Glazing and EV. Over 90 per cent. of the Group's historical sales have been related to Glazing however the transition of the automotive sector towards EV is providing new growth opportunities. In 2019, the Group launched 'ST Flex' to focus on these EV opportunities, in conjunction with the considerable growth in the EV market. The Company is drawing on its prior experience to provide connectivity between vehicle batteries and multiple cells and other lightweight, easy to package connector solutions. The business is set to benefit from its early mover advantage in EV and an existing customer base that includes many leading EV technology innovators such as Arrival, Williams and Rimac. With the funds raised at listing, the Company aims to further grow both the Glazing and EV businesses and continue to work with its existing OEM customers.