25th Jun 2014 11:17
LONDON (Alliance News) - IQE PLC said Wednesday that it has inked a new multi-year volume manufacturing agreement expected to be worth over GBP1 million a year for the production of epitaxial wafers to be used in optical communications applications.
The agreement is with an unnamed existing customer in the Asia Pacific region.
The semiconductor company said that under the contract its share of the customers business increases to a minimum of 80%, which it expects to be worth more than GBP1 million in additional yearly revenues for IQE's photonics business.
Shares in IQE were trading up 2.2% at 22.23 pence Wednesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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