(Alliance News) - Shares in printed circuit board maker Trackwise Designs PLC jumped Friday after it signed a collaboration deal with GKN Aerospace to manufacture aircraft ice protection systems.
Shares in Trackwise were 6.6% higher at 153.00 pence in London on Friday.
The deal will see Trackwise and GKN Aerospace - part of FTSE 100-listed Melrose Industries PLC - work towards the industrialisation of the GKN Aerospace Type 8 Ice Protection System. The agreement builds upon the existing development work undertaken by the pair of firms.
No financial details for the agreement were provided.
"Following nearly two years of joint product development, this is a significant milestone in our engagement with GKN, taking us a step closer to aerospace production at scale," Trackwise Chief Executive Officer Philip Johnston said.
"The capabilities involved are wholly aligned with those being developed by Trackwise for Improved Harness Technology and while aerospace qualification is a lengthy process, the size of the potential end markets means that the future revenue potential for our technology is significant", Johnston added.
