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Filtronic secures new contract with existing European defence customer
(Sharecast News) - Filtronic said on Wednesday that it has secured a new contract with an existing major European defence customer, marking an expansion of its relationship into an additional business unit and reinforcing its position in the growing defence market. The AIM-traded designer and manufacturer of advanced radio frequency solutions said the contract, valued initially at £0.4m, would cover the design, development and delivery of a new wide-bandwidth solution.
It said the programme was scheduled for delivery in the 2027 financial year, with the potential for volume production to follow.
The technology would be manufactured at the company's recently opened secure, automated microelectronics facility in Sedgefield, which it said was developed to support high-volume production of complex RF modules for next-generation defence applications.
Chief executive Nat Edington said the award reflected continued customer confidence and highlighted Filtronic's positioning in the sector.
"This latest award from an existing major European defence customer demonstrates continued confidence in our technology and ability to deliver high-quality programmes," he said.
"The company is increasingly well positioned to address long-term demand for complex, high-performance wideband solutions, reinforcing Filtronic's strategic position in the expanding defence sector."
At 0931 BST, shares in Filtronic were up 0.26% at 192.5p.
Reporting by Josh White for Sharecast.com.
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