Another acquisition | Trading well | Space contract
AIM is set to lose one of its two pawnbroking groups, which is being acquired by a US-listed giant. It will be sad to see AIM (and the UK stock market) lose another decent company, but at least the take-out price looks fairer than the majority we have seen over recent years. Elsewhere, it’s a change to see another UK-listed group acquire a US-listed peer, although scant information was provided, while a high-flying technology group announced another important contract win from a European space provider, sending its shares to new highs.
Filtronic: another important contract Filtronic (AIM: FTC), the designer and manufacturer of products for the aerospace, defence, space and telecoms infrastructure markets, announced a new contract win with Airbus Defence and Space. The contract is for the development and supply of payload connectivity technology for the first batch of replacement Eutelsat OneWeb satellites and part of the next phase of the Airbus-OneWeb collaboration. Importantly, it signals the potential for further contracts for the remainder of the constellation roll-out and marks Filtronic’s second recent contract with a European space provider, following ESA/Viasat announced in April. The assemblies will be produced in-house…