20th Jul 2015 07:09
LONDON (Alliance News) - Surface Transforms PLC shares were trading higher on Monday morning after the company said it has secured the AS9100 certification required to supply the mainstream aerospace market.
Surface Transforms said the quality management certification was secured in line with its pre-production contract signed with an unnamed mainstream aerospace company in September, which will lead to a sales at a contract maturity of GBP1.3 million a year.
In addition, the company said its client has identified Surface's carbon ceramic brakes for use in future helicopter programmes, with the first order for demonstrator parts already received.
"We are delighted with achieving AS9100 certification which supports our activities towards full volume supply in the coming years. It is also encouraging to also see our customers reconfirmation of the already announced military aircraft contract together with the progress on adoption of our technology on commercial aircraft and helicopter in the longer term," said Kevin Johnson, Surface's chief executive.
Shares in the company were up 11% to 14.0374 pence in early trade on Monday, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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