The year when it all came together:
ST is a specialist designer and manufacturer of carbon ceramic brake discs. This is a highly innovative component for the auto OEMs (original equipment manufacturers). Globally, there are two suppliers to this market. ST’s product is proven, having sold to the retrofit market for some years. 2019 has seen the first multi-year orders placed with ST. Potential clients’ tests take years. In 2019, ST secured its first three global OEM orders. Our estimates reflect these orders alone. With them, ST is cashflow positive for 2021. It thus has an assured seat, with long and extensive barriers to new competitors, in a market that should evolve to £2bn annual sales or more.
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