Flare low-key about new radar-invisible material

Ceramics group Flare has downplayed market expectations of a material it has developed which has radar-invisible stealth characteristics. Flare’s shares soared after a press report claiming that the material, in tests with the Ministry of Defence, could have wide-ranging commercial applications. A spokeswoman said: `This product was launched a year ago, and although some sales […]

Ceramics group Flare has downplayed market expectations of a material it has developed which has radar-invisible stealth characteristics.

Flare’s shares soared after a press report claiming that the material, in tests with the Ministry of Defence, could have wide-ranging commercial applications.

A spokeswoman said: `This product was launched a year ago, and although some sales may come through this year I am not aware of any orders yet.’

Operations director Stuart Redford said getting the material into production required substantial capital.

`The military and defence market is very conservative and will not turn overnight. We have to be cautious. The initial phase of development will need about £1m in investment – quite significant for us. We believe it is a product that needs supporting.’

Flare’s share price moved back to 11.5p from 15p after the cautious statement. Group results for the year showed a £3.9m loss after a difficult 12 months.

Copyright: Centaur Communications Limited