Contract Win

RNS Number : 0465Q

Versarien PLC

07 September 2017

 

7 September 2017

Versarien plc

("Versarien" or the "Company")

Contract Win

Versarien plc (AIM: VRS), the advanced materials engineering group, is pleased to announce that its subsidiary, Total Carbide Ltd, has secured its largest ever single order in the aerospace sector for parts to be used by the UK's largest aero engine manufacturer.

The order, with a total value over £200,000, is for precision components to be delivered at regular intervals over the next 15 months for use in engines for one of the world's leading airliners.

Neill Ricketts, CEO of Versarien, commented: "We are very pleased that we have secured this contract to supply specialist parts for such a prestigious customer in the aerospace industry, a first for the Company.  Total Carbide has been moving away from its historic reliance on the oil and gas sector and is seeing interest from a variety of end users for its innovative engineering solutions and this is the first of a number of new products being manufactured by one of our more mature companies.  I would like to thank our employees who have been working hard for several months to get the necessary aerospace standards and procedures in place in order to satisfy this order.  It has been a hard but productive period in our new Total Carbide factory.  We hope to invite shareholders to an open day at the factory in the coming months to see and learn how our new facility is attracting orders such as this one.

"This has been a very busy period across Versarien as a whole and we are seeing record levels of enquires from potential purchasers of our products and users of our technology.  We look forward to making further announcements in the coming weeks and months."

Enquiries:

Versarien                                                                                           01242 269 122

Neil Ricketts, CEO

Chris Leigh, CFO

WH Ireland (Nominated Advisor)                                                    0117 945 3470

Mike Coe / Ed Allsopp

IFC Advisory (Financial PR and IR)                                                0203 053 8671                

Tim Metcalfe

Graham Herring

Heather Armstrong

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014.  UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

About Versarien

Versarien plc (AIM:VRS), is an advanced engineering materials group. Leveraging proprietary technology, the Group creates innovative engineering solutions for its clients in a diverse range of industries. Versarien has five subsidiaries operating under two divisions:

Thermal and Hard Wear Products

Versarien Technologies Ltd. which owns the exclusive rights to a patent-protected additive process for creating advanced micro-porous metals targeting the thermal management industry and manufactures extruded aluminium heat sinks for the electronics and computing industries. www.versarien-technologies.co.uk 

Total Carbide Ltd, a leading manufacturer in sintered tungsten carbide for applications in arduous environments such as the oil and gas industry. www.totalcarbide.com 

Graphene and Plastics

2-DTech Ltd, which specialises in the supply, characterisation and early stage development of graphene products.  www.2-dtech.com 

ACC Cyroma Ltd, which specialises in the supply of vacuum-formed and injection-moulded products to the automotive, construction, utilities and retail industry sectors. Using Versarien's existing graphene manufacturing capabilities, AAC will have the ability to produce graphene-enhanced plastic products.  www.aaccyroma.co.uk

Cambridge Graphene Ltd, which supplies novel inks based on graphene and related materials, using patented processes and develops graphene materials technology for licensing to manufacturers.  www.cambridgegraphene.com 

 

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