Business
Ilika expands into Aerospace Sector
Ilika expands into Aerospace Sector.
About this update from Ilika Plc
[{"type":"text","content":"\n \nRNS Number : 4814R Ilika plc 28 October 2013 \n \n\nIlika plc\n(\"Ilika\" or the \"Company\")\n \nIlika expands into Aerospace Sector\n \nIlika plc (AIM: IKA), the advanced cleantech materials discovery company, has entered into contracts with two of the world's largest aerospace companies for the innovation of structural materials and coatings.\n \nThe aerospace sector represents a new market for Ilika's technology platform, which has recently been demonstrated to offer valuable insights into pathways for the development of materials highly relevant for the sector. In addition, the sector is a particularly strong fit because of the high level of demand for materials innovation required to drive forward improvements in aeroplane fuel economy. Fuel economy can be achieved through the use of lighter, stronger airframe materials as well as applying coatings to reduce drag.\n \nIn the UK, the aerospace sector has been recognised as a key part of the country's manufacturing base and has been identified for government support through the Aerospace Technology Institute (ATI), which will deploy £2 billion over the next seven years. Ilika is actively partnering up with aerospace companies to access this ATI budget.\n \nCommenting, Graeme Purdy, Ilika's CEO, stated, \"Ilika's proprietary materials platform has shown itself to be very relevant to the aerospace sector. The contracts we have secured will make a contribution to this year's revenue and we are looking to build on these initial commercial engagements to make a significant impact in the aerospace supply chain, supported by the ATI, going forward.\"\n \n \n\n\n\n\nIlika plc \n\n\nwww.ilika.com\n\n\n\n\nGraeme Purdy, Chief Executive\n\n\nTel: 023 8011 1400\n\n\n\n\nSteve Boydell, Finance Director\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nNumis Securities Limited\n\n\nTel: 020 7260 1000\n\n\n\n\nOliver Cardigan, Nominated Adviser\n\n\n \n\n\n\n\nJames Black, Corporate Broking\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nWalbrook PR Ltd \n\n\nTel: 020 7933 8780 or [email protected]\n\n\n\n\nPaul McManus\n\n\nMob: 07980 541 893 \n\n\n\n\nPaul Cornelius\n\n\nMob: 07827 879 460 \n\n\n\n\n \n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END  ...