29th September 2011
First US electronics contract and expansion of customer base in Asia
Ilika plc is pleased to announce that it has secured two new contracts, one in the United States and the other in Asia, each with world leading electronics manufacturers. The US contract is the first electronics contract for the Company in this territory.
The contracts are to synthesise and optimise next generation electronic materials in return for stage payments. In aggregate, these contracts represent in excess of £0.3 million in revenue all of which will be recognised within the financial year ending 30 April 2012.
Commenting on these new contracts, Graeme Purdy, Chief Executive of Ilika, said:
“These new contracts have been secured as a result of the expansion of our business development activities in Asia and the US last year. We continue to seek to expand our broad pipeline of commercial opportunities and are in the process of appointing a new business development director for Europe who will be based in Germany. This should add further momentum to our growth whilst continuing to diversify the portfolio of materials that we are discovering for the energy and electronics industries.”