It's more fluff. I fell like a rickety 737 in a holding pattern over Tullermarine. Not a word on the bigger deals they were talking about either.
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ASX Release 8th June 2017
SMN Targets AMEA Airlines with newly formed Middle East Taskforce
Highlights:
• Structural Monitoring Systems Plc (SMN) forms partnership with Octus Aerospace Solutions Ltd (“OAS”), a team of high profile individuals based in the Middle East, to assist and fast-track supply and/or licensing agreements with some of the world’s largest, and most important, airlines
• Representatives from SMN management, Testia, Airbus and leading industry veteran, Dennis Roach from Sandia Labs, currently road-showing in the Middle East with leading airlines to introduce SMS’ industry-leading CVMTM technology
• OAS personnel have strong relationships with key executive level, “C-suite” management at targeted airlines, and have extensive experience across the aviation sector including very senior roles with Emirates and Boeing
Structural Monitoring Systems Plc (ASX: SMN) (“SMN” or “the Company”), developer of the fully patented CVMTM technology used to detect and monitor fatigue in composites and metals, is pleased to announce it has signed an agreement to partner with Octus Aerospace Solution Ltd ("OAS") to aggressively target pivotal relationships with major Middle East and Asian based airlines.
This partnership is significant for the Company as OAS’ senior executives have exceptional track records delivering success, particularly in the aviation and airline manufacturing industries. All OAS’ executives reside in the United Arab Emirates and have very close, top-tier ties with major airlines. The AMEA region is one of the fastest growing regions in the world and home to Emirates, Etihad and Qatar airlines (in addition to several significant regional players) all of which have led the global aviation industry in recent years in terms of growth and innovation.
The partnership aims to fast-track CVMTM penetration in strategic areas, and identify key relationships with counterparties to continually evolve the commercialisation of the technology.
Importantly, OAS has completed a large amount of due diligence, including, but not limited to, multiple discussions with airline executives to “sound out” initial interest from the leading AMEA airlines, Feedback prior to the commencement of the roadshow has been very positive.
Octus Aerospace Solution Ltd’s Chief Executive Officer, John Nolan, commented: “We are very excited to join forces with SMN to leverage our global relationships and business know-how within the aviation industry across the globe, and specifically within the AMEA region.
“SMN’s patented CVMTM advanced technology provides a great opportunity for airline operators across the region to revolutionise fleet maintenance practices to deliver improved safety protocols, greater fleet utilisation and significantly enhanced bottom-line profitability. The AMEA region is renowned for its fast-paced and innovative business culture, and early adoption of cutting-edge, transformational technologies are core to the AMEA business philosophy and the region’s long-term strategic vision.
“It is for this reason we see the AMEA region as the ideal territory for SMN to continue commercialisation of its CVMTM advanced technology, and I am extremely confident we have the perfect team to enable SMN to successfully execute this strategy.”
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(20min delay)