TT electronics PLC
08 May 2008
TTG.L
8th May 2008
TT electronics plc
Significant US Federal contracts to the US armed forces
TT electronics plc, a world leader in sensor and electronic component
technology, today announces that it has won new contracts worth $90 million over
the next five years for the supply of interconnection systems to the US armed
forces for use with mobile radio communication equipment.
The new orders have been won by TT electronics' specialist interconnection
systems business which is an established supplier to the defence market and is
already supplying NATO approved equipment to the majority of the NATO armed
forces, including the MoD.
TT electronics' interconnection systems business operates from a global
manufacturing base supplying the defence, aerospace and traction markets. TT
electronics' specialist expertise has been a key factor in winning significant
contracts including the interconnection systems for all the new rolling stock
for the upgrade of the London Underground in preparation for the 2012 Olympic
Games.
The market position of the business has recently been enhanced through the
acquisition of New Chapel Electronics ('NCE') whose complementary operations
will provide greater access to the high margin defence and civil aerospace
sectors.
Neil Rodgers, Chief Executive of TT electronics, commented:
'I am very pleased to be able to announce these new orders won against strong
competition, which demonstrates the strength of our interconnection systems
operations. We have been successful in growing our interconnection systems
revenues in the past three years and have successfully targeted highly
specialist applications where enhanced added value leads to better margins. We
are confident that we will be able to strengthen this position further with the
recent acquisition of NCE which extends our reach into specialist, high margin
aerospace markets.'
Enquiries:
TT electronics plc Tel: 01932 841310
Neil Rodgers, Chief Executive
Biddicks Tel: 020 7448 1000
Zoe Biddick Tel: 07931 314087
Notes to editors:
TT electronics' interconnection systems business is focused on providing
comprehensive connector / back-shell, harness and system products for military
and commercial markets. It has manufacturing facilities in the US, UK and China,
with assembly facilities in Malaysia.
On 2 April, 2008, TT electronics announced the acquisition of NCE for a
consideration of up to £5.2 million. NCE, which is based in the UK, designs and
manufactures specialist interconnection systems for the aerospace and defence
markets. The custom made products achieve high profit margins.
The acquisition expands TT electronics' interconnection systems business
offering to the military and civil aerospace sector.
This information is provided by RNS
The company news service from the London Stock Exchange
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