Senior PLC Shares Spiked Lower, Then Rose on Strata Contract

The Senior plc (LON: SNR) share price spiked lower, then rose after announcing a noteworthy contract award in partnership with Strata Manufacturing PJSC (Strata), a United Arab Emirates-based aerospace company. 

The new contract pertains to the Boeing 787 vertical fin detail parts supply and signifies another milestone in Senior's commitment to delivering high-quality aerospace solutions.

The contract represents a substantial commitment with a total value of approximately $12 million over seven years. Commencing in November 2023, the contract's series manufacturing will occur at Senior Aerospace's state-of-the-art facility in Chonburi, Thailand (SAT).

SAT has earned Boeing's approval for the manufacturing, treatments, and assembly processes, solidifying its reputation as a trusted and qualified partner for aerospace manufacturing. 

With extensive experience producing vertical fin aluminium structures, SAT leverages Senior's broader engineering and technological expertise to meet the highest quality standards.

Launie Fleming, CEO of Senior Aerospace, expressed their enthusiasm about this new partnership with Strata, emphasising that Strata is a valued addition to Senior's esteemed clientele in the Commercial Aerospace industry. 

The company's history as a reliable supplier of aerospace components underscores its dedication to excellence and its readiness to deliver on this and future contracts.

This contract not only strengthens Senior's position in the aerospace manufacturing sector but also highlights its commitment to expanding its global footprint and fostering new partnerships.

By collaborating with Strata Manufacturing PJSC, Senior PLC continues to demonstrate its capacity to provide cutting-edge solutions that meet the rigorous standards of the aerospace industry.

Senior plc remains at the forefront as the aerospace industry evolves and grows, developing innovative solutions and establishing valuable partnerships to drive progress and excellence in aviation technology. 

With a legacy of expertise and a commitment to delivering on their promises, Senior plc looks forward to successfully collaborating with Strata and serving the broader aerospace community with world-class solutions.

Launie Fleming, CEO of Senior Aerospace, said: “Strata is a new customer for Senior, and we are delighted that Senior Aerospace Thailand has been selected for this important contract.  Senior is a trusted supplier to the Commercial Aerospace industry, and we look forward to executing on this and future contracts.”

Senior Plc share price. 

The Senior Plc share price spiked lower, then edged higher on contract award from Strata.