Versarien on track with turnaround plans, firm tells investors
Forest of Dean-based advanced materials engineering firm Versarien has told investors its turnaround plans are on track.
The firm told investors at a general meeting yesterday (Monday) that a number of parties are interested in the intellectual property and plant acquired from Hanwha Aerospace, which is being marketed for sale, while the sale process for AAC Cyroma Limited, a manufacturer of moulded products is in the advanced stages.
The firm's leisure division continues to have discussions with potential new customers for the Company's Graphene-Wear coatings, while in construction, in addition to a number of ongoing Cementene trials, the company is engaged in the production of additional 3D printed concrete structures and Versarien's participation in the Digital Roads of the Future and Roads Research Alliance programmes is generating further potential opportunities, including the potential use of graphene in asphalt resurfacing.
The firm launched a turnaround strategy after posting losses of £3.4 million in its half-year results.