CONCURRENT TECHNOLOGIES PLC

Regulatory Filings • Mar 31, 2025

National Storage Mechanism | Additional information

RNS Number : 7624C

Concurrent Technologies PLC

31 March 2025

31 March 2025

Concurrent Technologies Plc

(the "Company" or the "Group")

Lease agreed for new, expanded headquarters and manufacturing facility

New 40,000 sq ft facility to double production capacity and support continued business growth

Concurrent Technologies Plc (AIM: CNC), a designer and manufacturer of leading-edge computer products, systems, and mission-critical solutions used in high-performance markets by some of the world's major OEMs, announces that, subject to customary lease closing matters, it has reached agreement in principle to take a 20-year lease for a new property to house its Colchester-based headquarters and UK manufacturing. This new, purpose-built facility will enhance the Company's ability to service the ongoing growth of the business. 

In 2023, the Company added a second shift in assembly, which notionally doubled production capacity. With approximately 40,000 square feet, and with the ability to create further space if required, the selected property more than doubles the floorspace of the current property.  The Company has decided to concurrently invest in machines to double PCB assembly capacity, for installation into the new building.

Located just seven miles southwest of Concurrent's current location, with excellent connection to road and rail services, the Company expects to move into the new facility in the second half of 2026. Kit out of the new facility, including the additional equipment and machinery, will be approximately £5m and funded out of existing cash reserves. 

In the meantime, the Company retains the ability to use external contract manufacturers to produce Concurrent's products as a source of additional capacity, if required. 

Miles Adcock, CEO, said, "This new purpose-built factory is an exciting milestone for Concurrent, delivering significant benefits to our customers, and investors, and provides a state-of-the-art environment for our team. The growth in our Products business drives the need for capacity expansion. The new facility will allow us to meet the increasing customer demand while improving production flexibility and efficiency, enabling us to streamline operations and better serve our customers. This investment is a key milestone in Concurrent's evolution as a leading player in the global defence electronics arena."

Enquiries:

Concurrent Technologies Plc Miles Adcock - CEO Kim Garrod - CFO	+44 (0)1206 752626
Alma Strategic Communications Hannah Campbell Josh Royston Will Merison	+44 (0)20 3405 0205
Cavendish Capital Markets Limited (NOMAD) Neil McDonald Peter Lynch	+44 (0)131 220 9771 +44 (0)131 220 9772

About Concurrent Technologies Plc

Concurrent Technologies Plc develops and manufactures high-end embedded plug-in cards and systems for use in a wide range of high-performance, long-life cycle applications within the telecommunications, defence, security, telemetry, scientific and aerospace markets, including applications within extremely harsh environments. The processor products feature Intel® processors, including the latest generation embedded Intel® Core™ processors, Intel® Xeon® and Intel Atom™ processors. The products are designed to be compliant with industry specifications and support many of today's leading embedded operating systems. The products are sold world-wide.

For more information on Concurrent Technologies Plc and its products please visit www.concurrent.tech .

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