Filtronic plc
New Supply Agreement
Filtronic plc (AIM: FTC), the designer and manufacturer of microwave electronics products for the wireless telecoms infrastructure market and adjacent markets, is pleased to announce that its Filtronic Broadband business unit has entered into a multi-year supply agreement with a major defence equipment manufacturer to supply specialist high frequency modules for a latest generation defence related aerospace application.
The supply agreement covers a period of eight years during which Filtronic will manufacture and test the modules at our certified advanced manufacturing facility in Sedgefield, UK and is expected to generate approximately £13m of net revenue (revenue net of material costs) over the term of the agreement. The agreement also provides for further increased volumes in the event that our client secures follow-on project wins with its end-clients.
Rob Smith, Filtronic plc's CEO commented; "Filtronic Broadband is a specialist designer and manufacturer of microwave and mmWave transceivers for the telecommunications industry and related defence markets. This agreement is the first substantial defence related business win for Filtronic Broadband and with it we achieve a significant strategic milestone in diversifying our customer and market base. We are delighted to have been selected as a supply partner by this prestigious customer and we look forward to further successes in this sector in the future."
Enquiries:
Filtronic plc |
Tel. 0113 220 0000 |
Rob Smith (CEO) |
Tel. 07810 774 688 |
Maura Moynihan (Company Secretary) |
Tel. 01274 535 619 |
|
|
Panmure Gordon (UK) Limited |
Tel. 020 7886 2500 |
Dominic Morley / Alina Vaskina (Corporate Finance) Erik Anderson / Tom Salvesen (Corporate Broking) |
|
|
|
Walbrook PR Limited |
Tel. 020 7933 8780 or [email protected] |
Paul Cornelius Helen Cresswell |
Mob. 07866 394 707 Mob. 07841 917 679 |
Notes:
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
