Companies sign contract at Farnborough Airshow
TMD Technologies and LIG Nex1 have been working in partnership for over ten years. A contract signed in July at the Farnborough International Airshow covers supply of Travelling Wave Tubes (TWTs). A TWT is a specialized vacuum tube that is used in electronics to amplify RF signals in the microwave range. These will be incorporated into the Korean company’s missile programme, with the contract value of £5m.
TMD is a specialist SME, based in West London with a support and repair facility in Baltimore. The company’s annual turnover is £23m. Export accounts for more than 90% of TMD’s business, with the Republic of Korea being TMD’s second largest export market.
Signing the contract for LIG Nex1 was Mr Byung Hyun Kwon (Head of Procurement). Among other LIG Nex1 representatives present were Mr Joung Sik Lee (Chief Operating Officer) and Mr Seung Kyu Hong (Head of Global Business Division). Representing TMD were Managing Director, Dave Brown; Sales & Business Development Director, Jane McAlister and Head of Region Asia Pacific, David Bullas.
The UK Minister of State for Trade and Investment, Lord Price CVO, and Head of UKTI DSO, Stephen Phipson CBE were also present to witness the signing.
Dave Brown commented that Farnborough International Airshow is a key event for TMD, allowing them to connect with the global network of customers and partners. “LIG Nex1 is a very important part of this network and signature of this contract enables us to strengthen our relationship with them.”