IQE named 'Gold Tier Supplier' by BAE Systems

19th Apr 2023 13:21

(Sharecast News) - Compound semiconductor wafer products and advanced material supplier IQE announced the receipt of a Gold Tier Supplier Award from BAE Systems on Wednesday.

The AIM-traded firm said the award recognised its performance and contributions to supply chain success for BAE's electronic systems sector in 2022.

It said the award was part of BAE's 'Partner 2 Win' programme, which aimed to achieve operational excellence and eliminate defects in the supply chain by raising performance expectations to meet the demand of current and future customers.

The programme saw BAE Systems meeting with suppliers regularly to transfer best practices and ensure that the components and materials met high quality standards.

"We are very proud to have been awarded our third Gold Supplier Award by BAE Systems," said chief executive officer Americo Lemos.

"This is a testament to the strength and durability of our partnership and the importance of the technology that we provide.

"The future of innovation will depend on compound semiconductor products, and we look forward to continued collaboration and success with BAE Systems, focusing on technological advancement in the aerospace and security sector."

At 1257 BST, shares in IQE were down 2.32% at 25.25p.

Reporting by Josh White for Sharecast.com.