CATEC’s revenues bolstered by aerospace R&D services

The Centre for Advanced Aerospace Technologies (CATEC) has announced it has increased its turnover by 153% in 2010 after reaching an income of €3.8 million compare with 2009's financial year of €1.5 million. The technology centre says it has reached this significant achievement thanks to its R&D services for aerospace companies. Income from R&D contracts with third parties amounted to €2.2 million last year, which represents 57% of CATEC's total income. The remaining 43% comes from competitive grants and funds from the Regional Ministry of Economy, Innovation and Science. In 2010, CATEC developed performances for 22 customers, among there were companies, institutions and research organisations. In 2011 the centre expects its revenues to reach a new high of around €4.3 million. www.catec.com.es