LONDON - Senior Aerospace, a key player within the aerospace and defense markets, has secured a lucrative seven-year contract with Strata Manufacturing, based in the United Arab Emirates. The $12 million agreement, announced today by Senior's CEO Launie Fleming, involves supplying components for the Boeing (NYSE:BA) 787 vertical fin from Senior Aerospace's facility in Chonburi, Thailand.
The announcement was met with positive investor sentiment as shares of Senior plc, listed on the FTSE 250, experienced an uptick from 161.4 to 177 following the news. This partnership not only signifies a strong end to the year for Senior Aerospace but also highlights the company's ongoing commitment to growth and excellence within the aerospace domain.
Strata Manufacturing has been recognized for its support of aerospace leaders and its progressive move towards integrating more advanced technologies and capabilities. This deal with Senior Aerospace underscores both companies' dedication to maintaining high standards and adapting to industry demands.
The contract leverages not only Senior Aerospace's expertise but also Thailand's growing prominence as a hub for aerospace manufacturing in Asia. With this agreement in place, both Senior Aerospace and Strata are poised to make significant contributions to the production of Boeing 787 aircraft.
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