# Strat Aero plc Reduced Costs, Enhance Performance and Potential Acquisition

- Link: https://www.directorstalkinterviews.com/strat-aero-plc-reduced-costs-enhance-performance-potential-acquisition/412747864
- Published: 2018-03-22T07:15:14+00:00
- Author: Giles Arbor

**Strat Aero Plc** (LON:AREO) has today provided shareholders with the following
operational update.

The Board has made considerable and rapid progress on reducing costs whilst continuing
to enhance the performance and prospects of Geocurve, its main operating business.
Board and corporate costs are both now materially reduced with the training division
and the US operations now closed.

Our wholly owned subsidiary Geocurve has now commenced its initial innovative technology-
based 3D and Virtual Reality survey service for the Environment Agency’s Thames 
Estuary Asset Management 2100 (TEAM2100) programme and is in dialogue with other
potential customers for similar services.

In pursuit of the strategy outlined in December, Strat Aero Plc is in advanced discussions
in relation to the acquisition of a substantial minority stake in a complementary
innovative technology business with strong prospects for growth. If the transaction
is concluded the purchase consideration will be met from current cash resources.
Whilst the parties are very hopeful of reaching a definitive agreement in the near
future, there can be no certainty that these discussions will conclude satisfactorily
until the final documents are signed. Further announcements will be made in due 
course as appropriate.

Share on: