MALVERN-based manufacturer Tricorn Group has signed a five year long term agreement (LTA) with an unnamed British construction equipment manufacturer.
The AIM-listed firm – a tube manipulation specialist – has won the contract through its Maxpower Automotive UK subsidiary, part of its transportation division.
The LTA is expected to generate around £10m of revenue for the group over its duration, based on the current predicted volumes. The agreement is to supply rigid tube assemblies used in high pressure hydraulic applications.
Maxpower Automotive UK will invest approximately £250,000 in additional manufacturing capability at its facility at West Bromwich to support the contract.
David Leakey, sales director of Tricorn, said. “Having a core skills base close to the customer’s business, as well as an expanding international presence, was key to us securing this significant contract win.
“On the back of this we can now build upon the high pressure, hydraulic tube capabilities that were first established at our USA operation.”