London Tech Firm Concurrent Secures Record US Contract
In a landmark achievement, a prominent London-listed defence technology company has secured its largest contract to date, sealing a deal with a major US defence and aerospace contractor for computer plug-in cards. Concurrent Technologies, listed on the AIM market, announced the substantial contract valued at £3.51 million encompassing a significant quantity of standard products from its range. The supplied products will play a pivotal role in a vital US Department of Defence initiative aimed at upgrading specific sensing equipment utilized in aircraft across diverse fleets. Miles Adcock, CEO of Concurrent Technologies, expressed satisfaction in meeting the customer’s requirements promptly, enabling participation in the crucial enhancement of capabilities for the US Air Force. He highlighted the magnitude of this achievement, emphasizing that it not only marks the company’s largest contract but also its most substantial design-win. The anticipated lifeline value exceeding £3.51 million signifies a significant long-term opportunity, with sizable purchase orders projected for the coming seven to ten years. This milestone contract comes on the heels of positive developments for the firm, including robust performance results in May that led to a surge in share prices. Investors echoed their enthusiasm, leading to a five percent increase in the stock value during early trading. Further adding to its success, Concurrent Technologies recently completed the acquisition of Philips Aerospace, a specialized manufacturer of custom aviation systems. The company’s favourable outlook aligns with the broader trend in the industry, benefitting from heightened geopolitical tensions prompting Western nations to reassess and bolster their defence expenditures.
LuciDeon Boosts Capabilities with New Equipment
In a strategic move to enhance its materials science and technology consultancy services, LuciDeon, based in Staffordshire, has recently acquired cutting-edge scientific equipment through a £5.6 million equipment finance loan from HSBC UK, combined with support from UK Research and Innovation (UKRI).
The newly acquired state-of-the-art equipment comprises a range of advanced tools including spectrometers, X-ray machines, ultra-high temperature and multi-atmosphere furnaces, and Ceramic 3-D printers. This technological upgrade is set to propel LuciDeon’s capacity to test and innovate materials for specialized applications, particularly in sectors like aerospace and Net Zero technologies.
This equipment will be housed in the state-of-the-art AMRICC centre in Stone, managed by LuciDeon on behalf of its members. Known as the first of its kind in the UK, the centre boasts a complete suite of tools necessary to replicate advanced ceramics production processes on a pilot scale. Such facilities allow businesses to experiment with new materials seamlessly without interrupting their production lines.
In addition to supporting the AMRICC centre, LuciDeon plans to replace existing equipment and expand its assets to accommodate its growing clientele. This move aligns with the company’s expansion goals and underlines its commitment to investing in Staffordshire, with nearly £4 million already injected into the local economy.
LuciDeon, headquartered in Staffordshire, provides materials science consultancy services to clients across the UK, United States, and globally, with a considerable presence in the US market. Notable clients include industry giants such as Rolls-Royce, GE, and SpaceX. This significant equipment investment underscores LuciDeon’s commitment to advancing scientific innovation and solidifying its position as a key player in the materials science sector.
UK Delegation Eyes HD Hyundai Collaboration
The UK Defence Industry Economic Delegation recently made a visit to HD Hyundai’s Global R&D Centre (GRC) in a strategic move to assess HD Hyundai’s naval capabilities and seek potential collaboration opportunities within the naval sector.
UK Defence and Security Exports (UKDSE) under the Department for Business and Trade, alongside delegates from prominent UK defence firms, the delegation, totalling approximately 30 members, engaged in discussions at HD Hyundai’s GRC. Notable attendees included senior representatives from UKDSE and key executives from leading global defence companies like BAE Systems, Thales UK, Atlas UK, and Leonardo UK.
HD Hyundai Heavy Industries currently holds a prominent position in the export of Korean naval vessels, evident in recent milestones such as the launch of the BRP Miguel Malvar a 3,200-ton corvette for the Philippine Navy. This event, held at HD Hyundai’s Ulsan headquarters, saw the presence of Philippine Defence Secretary and military dignitaries. In addition, the company secured a significant contract with the Peruvian Navy for the joint production of naval vessels with SIMA, a Peruvian state-owned shipyard, enhancing its foothold in the global naval market.
A significant achievement for HD Hyundai was the timely delivery of a 3,000-ton class submarine, marked by the signing ceremony for the (ROKS Shin Chae-Ho) submarine delivery. Government officials from nine countries worldwide attended the event, underscoring the calibre of Korean naval vessels, including submarines, Aegis destroyers, and frigates.
Mace Renews Commitment to British Armed Forces
Renowned programme and project delivery consultant, Mace, has reiterated its unwavering support for the British Armed Forces and ex-military personnel by resigning the Armed Forces Covenant.
Serving as a Gold signatory of the Armed Forces Covenant, Mace actively welcomes individuals transitioning from military to civilian life by providing tailored assistance through the Mace Military Programme. This bespoke program aims to guide service leavers interested in joining Mace towards new opportunities. Moreover, Mace operates the Military at Mace Network, an employee resource group offering ongoing support to veterans and Reservists while also contributing to armed forces charities.
Recognizing the exceptional skills possessed by individuals with military backgrounds, currently numbering around 300 within the organization, Mace acknowledges their crucial role in the built environment sector, addressing talent gaps and fostering diversity.
Mace’s expertise extends to the successful delivery of intricate defence and security projects worldwide, along with iconic architectural structures. Noteworthy projects include upgrades to the UK’s defence estate, strategic cost advice on major defence equipment purchases, and contributions to the national nuclear deterrent infrastructure.
Additionally, Mace excels in providing comprehensive project and programme management services in expanding markets, focusing on constructing embassies, airports, research centres, and data facilities, operating in highly secure environments at the forefront of significant initiatives.
That’s a wrap folks, enjoy the weather.