8th May 2008 07:01
TT electronics PLC08 May 2008 TTG.L8th May 2008 TT electronics plc Significant US Federal contracts to the US armed forces TT electronics plc, a world leader in sensor and electronic componenttechnology, today announces that it has won new contracts worth $90 million overthe next five years for the supply of interconnection systems to the US armedforces for use with mobile radio communication equipment. The new orders have been won by TT electronics' specialist interconnectionsystems business which is an established supplier to the defence market and isalready supplying NATO approved equipment to the majority of the NATO armedforces, including the MoD. TT electronics' interconnection systems business operates from a globalmanufacturing base supplying the defence, aerospace and traction markets. TTelectronics' specialist expertise has been a key factor in winning significantcontracts including the interconnection systems for all the new rolling stockfor the upgrade of the London Underground in preparation for the 2012 OlympicGames. The market position of the business has recently been enhanced through theacquisition of New Chapel Electronics ("NCE") whose complementary operationswill provide greater access to the high margin defence and civil aerospacesectors. Neil Rodgers, Chief Executive of TT electronics, commented: "I am very pleased to be able to announce these new orders won against strongcompetition, which demonstrates the strength of our interconnection systemsoperations. We have been successful in growing our interconnection systemsrevenues in the past three years and have successfully targeted highlyspecialist applications where enhanced added value leads to better margins. Weare confident that we will be able to strengthen this position further with therecent acquisition of NCE which extends our reach into specialist, high marginaerospace markets." Enquiries: TT electronics plc Tel: 01932 841310Neil Rodgers, Chief Executive Biddicks Tel: 020 7448 1000Zoe Biddick Tel: 07931 314087 Notes to editors: TT electronics' interconnection systems business is focused on providingcomprehensive connector / back-shell, harness and system products for militaryand commercial markets. It has manufacturing facilities in the US, UK and China,with assembly facilities in Malaysia. On 2 April, 2008, TT electronics announced the acquisition of NCE for aconsideration of up to £5.2 million. NCE, which is based in the UK, designs andmanufactures specialist interconnection systems for the aerospace and defencemarkets. The custom made products achieve high profit margins. The acquisition expands TT electronics' interconnection systems businessoffering to the military and civil aerospace sector. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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