Surface Transforms, the embattled Knowsley-based maker of carbon fibre reinforced ceramic disc brakes for supercars, said on Wednesday it intends “to immediately engage corporate restructuring advisers” after it lost its “most significant customer.”
Surface Transforms said: “The company has been informed by General Motors (GM) that it is re-sourcing its supply of brake disks with effect from 31st March 2026.
“GM is the company’s most significant customer and in FY 2025 formed £15.3m (84%) of revenues and 85% of discs sold and was under contract until 2030.
“Additionally, since November 2024 GM has provided the company with operational support and financial assistance including advance payments of £14.4m …
“The company has not yet had the opportunity to speak directly with GM about the termination, but the loss of this contract has a material impact on the company’s ability to trade and as a result the directors intend to immediately engage corporate restructuring advisers to protect stakeholder’s interests.”