Versarien subsidiary wins new contract
StockMarketWire.com - Versarien announced that its subsidiary, Total Carbide, secured its largest ever single order in the aerospace sector for parts to be used by the UK's largest aero engine manufacturer.
The order, with a total value over £200,000, is for precision components to be delivered at regular intervals over the next 15 months for use in engines for one of the world's leading airliners.
CEO Neill Ricketts commented: "We are very pleased that we have secured this contract to supply specialist parts for such a prestigious customer in the aerospace industry, a first for the company.
"Total Carbide has been moving away from its historic reliance on the oil and gas sector and is seeing interest from a variety of end users for its innovative engineering solutions and this is the first of a number of new products being manufactured by one of our more mature companies.
"I would like to thank our employees who have been working hard for several months to get the necessary aerospace standards and procedures in place in order to satisfy this order.
"It has been a hard but productive period in our new Total Carbide factory.
"We hope to invite shareholders to an open day at the factory in the coming months to see and learn how our new facility is attracting orders such as this one.
"This has been a very busy period across Versarien as a whole and we are seeing record levels of enquires from potential purchasers of our products and users of our technology.
"We look forward to making further announcements in the coming weeks and months."
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