17th Feb 2015 07:55
LONDON (Alliance News) - Aerospace services company Strat Aero PLC on Tuesday said it has signed a memorandum of understanding with engineering services firm 4D Tech Solutions Inc.
Under the deal, the pair will look to pursue and deliver contracts on a non-exclusive basis to the US government and other international organisations, Strat Aero said.
Strat Aero added it is currently in advanced talks with the Army Research Laboratory in the US to win a multi-year contract including both fee and profit-share elements.
Strat Aero did not provide financial details on either the 4D deal or the Army Research Laboratory contract.
"By leveraging 4D's software solutions and its established relationship with the Army Research Laboratory, this memorandum of understanding broadens Strat Aero's offering, increases the range of contracts we can deliver, has the potential to generate material near term revenues via our participation in 4D's existing contracts, and importantly would see us start working with the Army Research Laboratory initially on a sub-contractor basis," said Strat Aero Chief Executive Officer Russell Peck.
By Sam Unsted; [email protected]; @SamUAtAlliance
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