Filtronic unveils planned move to new, purpose-built facility
By Josh White
Date: Friday 06 Sep 2024
(Sharecast News) - Filtronic, a designer and manufacturer serving the aerospace, defence, space, and telecoms sectors, announced plans to relocate its Sedgefield operations on Friday, to a new, purpose-built facility in early 2025.
The AIM-traded firm said the new site, situated on the same business park at NetPark in County Durham, would double its operational footprint, significantly expanding its capacity and capabilities.
It said the "state-of-the-art" facility would feature advanced cleanrooms, engineering laboratories, and testing areas, reinforcing its commitment to innovation and growth.
The strategic move aligned with the company's broader goals of enhancing its position as a global leader in high-performance millimetre-wave (mmWave) technologies and scaling its operations to meet future demand.
It said the expansion was also expected to stimulate the local economy by creating jobs and attracting further investment to the region, supporting regional goals of fostering innovation and growth in high-tech industries.
"The increased manufacturing footprint and enhanced testing facilities in our new building is critical to the successful execution of our strategy," said chief executive officer Nat Edington.
"We have reached a point where we have outgrown our existing building and are excited to move to a new facility that is purpose-built and meets our needs to give us the flexibility we need to continue growing our business."
At 1054 BST, shares in Filtronic were up 0.65% at 77.5p.
Reporting by Josh White for Sharecast.com.
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