The defence technology contractor Cobham says a deal to supply 'waveguides' for telecommunication satellites will boost jobs at its plants in Chichester in the UK and Les Clayes-sous-Bois in France.
The long term agreement from Astrium, a subsidiary of EADS, is worth £14m over the next 18 months, and includes an option to extend production into 2014.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Eiji Kawaishi, vice president of Cobham Aerospace Communications, said: "These agreements for our waveguide business units are important milestones in our business plans in this dynamic market."
Cobham shares were down 0.55% at 8:16.
BS
-
5 alternatives to Reeves’ inheritance tax raid on rural Britain as families face ‘splitting up or selling’ farmsInheritance tax limits are now so low they attack small working family farms rather than just going after tax loopholes, one Cotswolds farmer has said
-
High earners at risk of £65k retirement shockHigh earners could face some of the biggest pension shortfalls when they retire, as the cost of maintaining an expensive lifestyle could erode their retirement savings
