Chemical vapour deposition systems provider CVD Equipment Corporation has received a $30m order from a major aviation component supplier to build fibre coating systems for its new high volume facility.
CVD has relied on large purchase orders from the aerospace industry for several years, designing coatings and other equipment for numerous applications.
An initial CVD system was previously delivered to this particular customer in late 2015 and has since undergone testing and successful production at the customer’s facility. Additionally, CVD has multiple smaller production quantity systems currently operating at the company’s existing facility, with additional systems set to come online soon.
“Being selected to provide fibre coating equipment for this customer’s new high volume facility is a testament to our differentiated technology, and confirms CVD’s leading position as a key supplier of next generation technology for the aerospace industry,” said Leonard A. Rosenbaum, President and CEO.
“In addition to securing this order, we have focused our attention on other customers and applications in medical, aerospace, and electronics which we expect will help drive our future growth. We also anticipate further expansion into equipment and services for corrosion, oxidation, and wear resistant coatings for applications using chemical vapour deposition, chemical vapour infiltration, and spray coatings.”
This echoes the company’s sentiments from earlier this year, when reflecting upon its 2015 fiscal year results – its highest levels in CVD’s history – and a record-breaking run of financial figures.
Full year 2015 revenue rose by 39.2% to $39m, compared to $28m in its 2014 financial results. Additionally, operating income was $4.6m compared to an operating loss of $3.8m in the previous fiscal year.