Cicor awarded major aerospace and defense sector contract
|Bronschhofen – Cicor Group (SIX Swiss Exchange: CICN) has been awarded with a major multi-year follow-up business for a total value of around CHF 30 million by a market-leading European manufacturer of specialized aircraft solutions.|
|The current order intake amount is for component procurement and will be completed by follow-up orders during the total project duration of around seven years. The average annual sales volume is thus in the mid-single-digit million Swiss franc range, which represents an increase compared to the current sales with this long-standing customer. The entire contract for the manufacturing and testing of the technically advanced electronic assemblies, which will be used for a security relevant application in the aerospace and defence sector, will be carried out at Cicor’s site in Bedford, UK (Axis Electronics Ltd.).
This follow-up business is a result of recognition of Cicor’s deep understanding of the aerospace and defence business, unique engineering and testing capabilities, as well as reliability and competence in manufacturing and the supply chain management. The aerospace and defence sector is one of Cicor Group’s strategic target markets, along with industry and medical technology. Following the acquisition last fall, Axis has been successfully integrated into the global engineering and production network of Cicor’s Electronic Manufacturing Services (EMS) Division. As a result, Cicor has significantly strengthened its competencies in aerospace and defence and has become one of the top 5 European EMS providers for this sector. Continuity for the long-standing customer base of leading companies has been ensured and the offer along the entire value chain has been further expanded.