Staff at Shipley-based telecommunications components manufacturer Filtronic are celebrating after an £84 million expansion in four days.

The company has strengthened its hold on the market by acquiring Finnish company LK-Products from communications giant Nokia in a deal worth £58 million.

Four days earlier it revealed it was to buy US high-grade semiconductor company Litton Solid State from its Californian parent for £26 million.

Deputy executive chairman John Samuel said the two new acquisitions, aimed at cementing its ties with customers, were enough - for the time being.

"We haven't got any more planned for next week," he said.

LK, which was established 20 years ago, designs and manufactures filters and antennas for mobile phones plus access products for their base stations. It has 850 staff.

"Hopefully it's extremely good news for Shipley and the whole of Filtronic," he said. "Our biggest customer is Nokia and their biggest operations are in Finland.

"Six months ago Nokia approached us and asked if we would be interested in acquiring LK-Products with a view to establishing a factory in Finland next to them to give them the same level of support over there that we do in the UK.

"It's all part of the strategy of forming a business with a target of becoming number one in the world for high frequency, radio frequency and microwave customised electronics."

Filtronic chairman Professor David Rhodes said his company was pleased at the chance to further its relationship with Nokia.

Last year around 70 per cent of LK's sales were to Nokia although management believes all the business from its parent was won on a competitive basis.

Filtronic has around 600 staff in Britain at Stewarton in Ayrshire, Saltaire and Wolverhampton.

Because of the size of the Finnish deal, Filtronic's shareholders will need to give their approval.

The deal will be satisfied by £39.8 million in cash plus the issue of four million new Filtronic shares.

This will give Nokia a 7.5 per cent stake in Filtronic's enlarged issued share capital.

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