Labtech purchases Filtronics microwave facility
Mar 16, 2005
Labtech Limited, based in Presteigne, Wales, and a wholly owned subsidiary of Intelek plc, has purchased from Filtronic Components Limited the assets of Filtronics' microwave components design manufacturing facility located in Milton Keynes, UK.
In addition, Labtech has also entered into a three year Supply Agreement with Filtronic Components Limited.
The purchase of these assets, which includes plant, equipment and stock, for £0.5m, allows Labtech to extend its range of microwave manufacturing services to existing and new customers. Labtech will continue to operate the Milton Keynes facility and will name this division "Labtech Microwave" which will be offering custom and a standard range of microwave components for the military and satcoms markets. It is expected to generate sales of over £1.2m. in the next twelve months.
Intelek's Chief Executive, Ian Brodie, commented " This investment is part of our strategy of building on our presence in the microwave and satellite communications markets. Labtech's expanded offering will open many new opportunities not previously accessible to them."