Manufacturing Partnership & Capacity Expansion
Light Science Technologies Holdings plc's contract electronics manufacturing division, UK Circuits, has secured a new manufacturing partnership and expanded its production capacity by acquiring a Surface Mount Technology (SMT) production line. This new equipment enhances component placement throughput by 40-50% and has already generated an initial order of approximately £70,000 for fire safety industrial control systems, with potential for total orders up to £200,000 in the current financial year. The partnership is with a leading global provider of workforce management and access control solutions, whose parent company has annual revenues exceeding £12 billion.
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Light Science Technologies Holdings plc (AIM: LST), the innovative technology and manufacturing business, providing real-world solutions targeting issues including global food security and fire safety, is pleased to announce that its Contract Electronics Manufacturing division, UK Circuits and Electronics Solutions Limited ("UK Circuits"), has entered into a manufacturing partnership with a leading provider of workforce management and access control solutions serving the construction and infrastructure sectors (the "Partner").
As part of the partnership, UK Circuits has purchased a Surface Mount Technology ("SMT") production line previously utilised by the Partner, with installation and commissioning recently completed at the Company's Oldham manufacturing facility.
The new SMT equipment represents a significant enhancement to one of UK Circuits' three manufacturing lines, increasing component placement throughput by approximately 40-50% whilst also providing improved placement accuracy, greater feeder capacity and access to an upgraded software platform with enhanced functionality.
An initial manufacturing order of approximately £70,000 has already been received from the Partner for the current financial year. In addition, the Partner has indicated the potential for total orders of up to £200,000, also for the current financial year, subject to the value of transitional levels of free issue components that UK Circuits will be required to utilise to clear the Partner's remaining stocks.
The project comprises the manufacture of four printed circuit board assemblies ("PCBAs") for industrial control systems relating to fire safety.
About the Partner:
The Partner is a leading provider of workforce management, access control and safety solutions for the construction and infrastructure sectors. The business forms part of a global group that is one of the world's largest providers of intelligent access and security solutions, with operations in more than 70 countries worldwide and annual revenues exceeding £12 billion.
Simon Deacon, Chief Executive Officer of Light Science Technologies, commented: "The transfer and installation of this SMT production line represents a significant enhancement to our manufacturing capability and demonstrates the strength of our new relationship with a leading provider of workforce management and access control solutions.
"The increased capacity, improved efficiency and enhanced technical capability will support both existing customer programmes and future growth opportunities. We are also delighted to secure this initial order and look forward to developing the relationship further."
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