Cicor receives €30.8 million multi-year contract
Swiss EMS provider Cicor Group has been awarded with a major multi-year follow-up business for a total value of around CHF 30 million (EUR 30.8 million) by an unnamed European manufacturer of specialised 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 company explains in a press release.
The entire contract for the manufacturing and testing of the 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).
Following the acquisition last fall, Axis has been successfully integrated into the global engineering and production network of Cicor's EMS Division. As a result, Cicor has significantly strengthened its competencies in aerospace and defence.