North East telecoms technology business Filtronic has announced a £2m deal with a global defence and security company.
The firm, which has bases at Sedgefield’s NETPark business hub and Leeds, designs and manufactures products for the aerospace, defence, telecoms infrastructure and low earth orbit space markets, and has recently reported a run of lucrative deals.
The latest sees a new contract win with QinetiQ and phase one of the contract, valued at £2m, is expected to see revenue recognised over the next two years. The contract is for the development of a radio-frequency subsystem, to be installed as a vehicle-mounted land system or a helicopter-mounted mobile solution.
Filtronic said the proposed subsystem design will draw upon its established expertise in the design, assembly and tuning of complex radio frequency filters.
Richard Gibbs, chief executive officer, said: “We are delighted to be selected as the preferred partner on this project to provide an RF subsystem for the upgrade of an established range radar system. Winning this contract with a multinational, world-class defence technology company such as QinetiQ, is an important strategic development as we add a target client to our customer register and broaden the customer base. We look forward to working with our new customer to develop the product, deliver the final solution and build further on the relationship.”
The deal come less than a month after the company announced two contracts worth a combined £9.3m, and it forms the latest in a string of new work for the business.
Contract wins include a deal to provide a global low earth orbit satellite company with components – a project which will see Filtronic provide tech that forms part of a system to connect orbiting satellites.
Filtronic also secured funding from the Government’s £16m Defence Technology Exploitation Programme to deliver components for use in radar systems.
The AIM-listed firm’s share price has been climbing over the last 12 months, increasing by 73% from 12.75p in January 2023 to its current price of 22.09p.
Original artice – https://business-live.co.uk/all-about/yorkshire-humber
