CST Global grew 88 percent in 2017
Investment in production automation and quality processes has allowed the company to meet escalating demand for compound semiconductors
UK specialist compound semiconductor foundry CST Global has reported that its revenues increased by 88 percent, to £6.7M GBP, in 2017.
The merger between CST Global and Sivers IMA, in May 2017, has been key to this growth, according to CEO Neil Martin, as it has allowed the company to invest heavily in production automation and quality processes. "This was essential to meeting the escalating demand for our III-V compound semiconductors and to achieving an incredible, 88 percent, year-on-year growth," he said.
The investment included the introduction of 4inch wafer processing; increased MOCVD capability; an automatic bar stacker machine; and automatic visual inspection and sorting. The company also introduced ISO 9001:2015 quality and Telecordia certification; ITU GR 468 qualification testing; and ISO 14644-1 class 4, clean room conformance.
"These investments proved essential to accessing a new, world-class customer-base," said Martin. He added: "CST Global's membership and support of the UK and European Technology Consortium Programme, means we have 14, active, government, co-funded projects feeding our technology capability pipeline."
Sivers IMA Holding AB signed an agreement for the acquisition of all shares in CST Global, on May 19, 2017. Sivers IMA paid an initial purchase price for CST Global of 27,924,998 shares in Sivers IMA. By exceeding £6.5M turnover, as part of the original agreement, CST Global shareholders are entitled to an additional 13,962,499 of newly-issued shares.
The board of directors of Sivers IMA agreed, during their AGM on 14th February 2018, to authorise the issue of the new shares. These are expected to be traded on Nasdaq First North, on 21st February 2018.
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