CST Global reports £6.7million sales for 2017

28 Feb 2018

Sales by UK-based maker of III-V photonic devices surge by 88 percent.

Glasgow, UK-based manufacturer of III-V photonic devices CST Global’s revenues have increased by 88%, to £6.7million, in 2017,compared with the previous year, the company this week announced.

The company provides custom, foundry services in wafer, coated bar, chip device and die on tape formats. Its fabrication facility is qualified for 4-inch wafers and supports 3-inch wafers.

A company announcement stated, “We can confirm all the sales are of photonics technologies. Growth is in all prime markets including telecoms, industrial, defense and healthcare and across all technologies that we produce.

"What we are seeing increasing demand across all aspects of photonics as a result of the widespread use of photonics as an enabling technology.”

Neil Martin, CEO of CST Global, explained, “The merger between CST Global and Sivers IMA, in May 2017, allowed us to invest heavily in the automation of our production facility and quality processes. This was essential to meeting the escalating demand for our III-V compound semiconductors and to achieving our incredible growth.

“Our investment has included the introduction of 4-inch wafer processing; increased MOCVD capability, an automatic bar stacker machine and automatic visual inspection and sorting. This is supported by a team of 59 design, engineering and production staff. These investments proved essential to accessing a new, world-class customer-base.”

CST Global’s membership and support of the UK and European Technology Consortium Programme, means that it is involved with 14 active, government, co-funded projects feeding its technology capability pipeline.

Owner: Sivers IMA Holding

Stockholm, Sweden-based Sivers IMA Holding 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 a £6.5 million turnover threshold, 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 authorize the issue of the new shares. These are expected to start traded on Nasdaq First North, on 21st February 2018. Following completion, Sivers IMA shares will total 107,045,825.