Trio-Tech Secures $4.7 Million Automotive Semiconductor Burn-In Contract; Shares Rise
Trio-Tech International (TRT) shares rose more than 14% on Thursday after the company said it secured a three-year production burn-in contract from a new automotive semiconductor client across Europe and North America.The contract requires minimum billings of $4.7 million, with the potential to rise to $6 million, the company said.Under the deal, Trio-Tech will provide production burn-in services for an automotive semiconductor product supporting a major electric vehicle application, according to a statement.Price: $11.46, Change: $+1.37, Percent Change: +13.58%