New Supply Agreement

RNS Number : 4995R

Filtronic PLC

12 December 2016

 

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. [phone]
Rob Smith (CEO)	Tel. [phone]
Maura Moynihan (Company Secretary)	Tel. [phone]
Panmure Gordon (UK) Limited	Tel. [phone]
Dominic Morley / Alina Vaskina (Corporate Finance) Erik Anderson / Tom Salvesen (Corporate Broking)
Walbrook PR Limited	Tel. [phone] or [e-mail]
Paul Cornelius Helen Cresswell	Mob. [phone] Mob. [phone]

Notes: 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

 

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