Strat Aero on track for £1.3m engineering contract

AIM-listed aerospace company Strat Aero’s unmanned aerial vehicle inspection and surveying division Geocurve Holdings has been notified by civil engineer Barhale PLC of its intention to award the business a £1.3m contract.

Strat Aero said the contract would be to provide Geocurve’s UAV based engineering, inspection and surveying services over a five-year period, as part of a wider £1.25bn framework agreement between Barhale and Anglian Water.

Barhale was recently been appointed as a framework partner with Anglian Water for the next 15 years.

Chief executive officer Tony Dunleavy said: “Upon finalisation, the £1.3m Barhale contract will be the first the group has secured since we launched our broader strategy to become a full global solutions provider in the rapidly emerging high growth UAV sector.

“With a long pipeline of potential contracts in place, both domestically in the UK and overseas, we are highly confident this represents only the first of many new potential contracts for Geocurve and the wider group.”

At 1250 GMT, Strat Aero shares were up 4.7% at 5.50p.