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Strat Aero Nearing Investment As It Successfully Reduces Costs

22nd Mar 2018 14:16

LONDON (Alliance News) - Strat Aero PLC said Thursday it is in advanced talks over taking a stake in a technology firm as it said it has made "considerable" progress on reducing costs.

The drone services firm is in discussions to take a "substantial" minority stake in a technology business it said has "strong" prospects for growth.

Strat Aero, which ended its training operations after reviewing the funding required for the division, said it has made "considerable and rapid" progress on reducing costs while ensuring its main business, Geocurve, performs."

Shares were down 10% on Thursday at 0.045 pence each.

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