Rail project win boosts Solid State

The share price of AIM-listed electronics manufacturer and distributor Solid State (LON:SOLI) climbed by 3.72% to 502p (as of 15:47 BST) after it won a substantial new contract for a US rail infrastructure project. The deal is worth $3 million and is expected to be delivered over the next nine months.

CEO Gary Marsh commented: “This contract is a good example of the success of our acquisition strategy in broadening our international and sector reach. We have focussed on niche sectors where we can apply our value added engineering capability and where we can sell into increasingly international markets. The transportation sector has been a specific target and therefore this success is particularly pleasing“.