Orders boost for components firm

ESSEX-based hi-tech components company E2V Technologies has landed three new contracts worth a combined total of £10.7million.

ESSEX-based hi-tech components company E2V Technologies has landed three new contracts worth a combined total of £10.7million.

The contracts, which involve both the sensor and electronic tube sides of the business, are equivalent to about 10% of the company's annual turnover.

The largest, worth £6.1million, is to supply defence electronic subsystems, using E2V's electronic tube technology, to the UK Ministry of Defence.

Delivery is required within a six-month timescale, with opportunities for further orders from future contract phases.

E2V has also won a £1.5million contract to supply sensors for the second tranche of the Eurofighter-Typhoon missile approach warning system. The order comes via EADS Deutschland and follows E2V's successful completion of the programme's first tranche.

The third new contract, worth £3.1million, covers the ongoing supply of marine radar electronic tubes and sensor components to Alphatron Electronic Parts BV.

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Alphatron, based in the Netherlands, is a global distributor for E2V and supplies the Chelmsford-based company's marine products to the after-sales market through offices in every continent.

Keith Attwood, chief executive of E2V, said yesterday: “With these contracts we remain confident that we can meet our existing expectations of a traditionally stronger second half across both our electronic tube and sensors product groups.”

E2V, which has a workforce of around 1,300 people, supplies niche markets in the medical and scientific, aerospace and defence and commercial and industrial sectors.

News of the contract wins was released in a statement to the London Stock Exchange, to which E2V's shares were admitted in July last year.

Earlier this month, the company announced an interim pre-tax profit for the six months to September 30 of £4.5million, up from £4.2million in the same period last year, on turnover of £49.1million, up from £47.2million. In the year to March 31, 2005, the company made a profit of £12.6million on turnover of £100.5million.

E2V was created in 2002 through the acquisition of the Marconi Applied Technologies business in a £57million deal led by venture capital group 3i. However, the origins of the company, originally known as the English Electric Valve Company (later EEV) date from the 1940s when it was a pioneer in the development of magnetrons for defence radar systems.