(Yicai Global) April 14 --  Yinbang Clad Material’s stock gained after the aluminum products maker announced an order for aluminum alloy sheets from French auto parts supplier Valeo Thermal Systems that is equal to almost 63 percent of the Chinese firm’s revenue last year.

Shares of Yinbang [SHE: 300337] added 3.4 percent to end at CNY7.06 (USD1.11), the stock’s highest closing price since March 2. It had surged by as much as 9.8 percent earlier today.

Yinbang will provide Valeo or its designated customers with about CNY2 billion (USD314 million) of the products over the next three years, the Wuxi-based firm company in a statement released late yesterday. Prices will be based on the cost of aluminum ingots and their processing. The deal will boost earnings through 2024, it added.

The company has the capacity to turn out 200,000 tons of aluminum alloy composites and polymetallic composite materials a year. Its auto clients include Tesla, BMW, Mercedes-Benz, Caterpillar, and General Motors. It also supplies appliance makers Philips and Panasonic.

Editor: Emmi Laine, Xiao Yi