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(Sharecast News) - Manufacturer Filtronic has scored a new contract win that will see it supply high-performance modules for an airborne radar application with its lead defence customer, Leonardo.
Filtronic said the new order, valued at £800,000, expands the product offering of critical components supplied for Leonardo's state-of-the-art Active Electronically Scanned Array radar system.
The AIM-listed group anticipates that the order will be fulfilled in H2 of the next financial year, with the modules to be manufactured at its new "highly automated state-of-the-art hybrid microelectronics manufacturing operation" in Sedgefield, County Durham.
Chief executive Nat Edington said: "We are pleased to be able to extend our relationship with such a valued customer which reflects their continued confidence in our ability to deliver this new and challenging programme. Defence is a critical market for the execution of our growth plans and this ongoing long-term relationship with Leonardo is testament to Filtronic's strong track record of collaboration and successful project delivery with a respected defence prime."
As of 0940 BST, Filtronic shares were down 0.80% at 124.0p.
Reporting by Iain Gilbert at Sharecast.com
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