REG - Concurrent Tech. - Lease agreed for new HQ & manufacturing facility

Concurrent TechnologiesAnnouncement

31/03/2025 07:15

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RNS Number : 7624C  Concurrent Technologies PLC  31 March 2025

31 March 2025

Concurrent Technologies Plc

 

(the "Company" or the "Group")

 

Lease agreed for new, expanded headquarters and manufacturing facility

 

New 40,000 sq ft facility to double production capacity and support continued
business growth

 

Concurrent Technologies Plc (AIM: CNC), a designer and manufacturer of
leading-edge computer products, systems, and mission-critical solutions used
in high-performance markets by some of the world's major OEMs, announces that,
subject to customary lease closing matters, it has reached agreement in
principle to take a 20-year lease for a new property to house its
Colchester-based headquarters and UK manufacturing. This new, purpose-built
facility will enhance the Company's ability to service the ongoing growth of
the business.

 

In 2023, the Company added a second shift in assembly, which notionally
doubled production capacity. With approximately 40,000 square feet, and with
the ability to create further space if required, the selected property more
than doubles the floorspace of the current property.  The Company has decided
to concurrently invest in machines to double PCB assembly capacity, for
installation into the new building.

 

Located just seven miles southwest of Concurrent's current location, with
excellent connection to road and rail services, the Company expects to move
into the new facility in the second half of 2026. Kit out of the new facility,
including the additional equipment and machinery, will be approximately £5m
and funded out of existing cash reserves.

 

In the meantime, the Company retains the ability to use external contract
manufacturers to produce Concurrent's products as a source of additional
capacity, if required.

 

Miles Adcock, CEO, said, "This new purpose-built factory is an exciting
milestone for Concurrent, delivering significant benefits to our customers,
and investors, and provides a state-of-the-art environment for our team. The
growth in our Products business drives the need for capacity expansion. The
new facility will allow us to meet the increasing customer demand while
improving production flexibility and efficiency, enabling us to streamline
operations and better serve our customers. This investment is a key milestone
in Concurrent's evolution as a leading player in the global defence
electronics arena."

 

Enquiries:

 

 Concurrent Technologies Plc

Miles Adcock - CEO

                                          +44 (0)1206 752626
 Kim Garrod - CFO

 Alma Strategic Communications              +44 (0)20 3405 0205

Hannah Campbell

 Josh Royston

 Will Merison

 Cavendish Capital Markets Limited (NOMAD)  +44 (0)131 220 9771

Neil McDonald

                                          +44 (0)131 220 9772
 Peter Lynch

 

About Concurrent Technologies Plc

 

Concurrent Technologies Plc develops and manufactures high-end embedded
plug-in cards and systems for use in a wide range of high-performance,
long-life cycle applications within the telecommunications, defence, security,
telemetry, scientific and aerospace markets, including applications within
extremely harsh environments. The processor products feature Intel®
processors, including the latest generation embedded Intel® Core™
processors, Intel® Xeon® and Intel Atom™ processors. The products are
designed to be compliant with industry specifications and support many of
today's leading embedded operating systems. The products are sold world-wide.

 

For more information on Concurrent Technologies Plc and its products please
visit www.concurrent.tech (http://www.concurrent.tech) .

 

 

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