CVD Equipment Corporation, provider of chemical vapour deposition systems, has announced that it has received approximately $10m in new orders, primarily to provide additional fibre coating production systems to a major aviation component supplier.
The customer, whose name has not been disclosed, currently has several CVD production systems in operation.
Leonard A. Rosenbaum, President and Chief Executive Officer of CVD, stated, “Aerospace components which are manufactured utilising fibres coated by CVD’s equipment are lighter in weight, able to withstand higher temperatures and require less maintenance. The results are increased engine efficiency and reduced operational costs.”
CVD has relied on large purchase orders from the aerospace industry for several years and received a $30m order back in June 2016 for fibre coating systems.
It is this repeat customer activity that CVD needs to drive company growth. However, 2016 Q3 results displayed a significant drop in revenue which has lead the company to try and diversify its customer base.
CVD Equipment Corporation designs, develops, and manufactures a broad range of chemical vapor deposition, gas control, and other state-of-the-art equipment and process solutions used to develop and manufacture materials and coatings for research and industrial applications.