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AIM-listed engineering and casting firm Chamberlin (LON:CMH) has seen its share price soar by 101.16% to 43.25p (as of 10:45 GMT) after it won a new contract. The company will supply iron castings to Roadcraft who produce cat’s eyes for the UK and overseas markets. The deal is expected to generate revenues of £0.4 million per annum and helps to diversift output at the Wallsall foundry.
CEO Kevin Nolan said: “It is particularly pleasing to be awarded this new business with a new customer outside of the automotive sector in order to reduce our reliance on the production of bearing housings to the automotive sector, upon which our reputation has been built“.