DroneShield Establishes Counter-Unmanned Aircraft System Manufacturing in Europe
MT Newswires Live
Mar 11
DroneShield (ASX:DRO) established a counter-unmanned aircraft system manufacturing in Europe under a new partnership, with production underway and delivery scheduled for the middle of the year, the defense technology company said in a statement on Wednesday.
The contract manufacturer will undertake full turnkey assembly and component manufacturing, per the statement.
The company's global manufacturing expansion is expected to boost its combined total annual production capacity to AU$2.4 billion by the end of the year from about AU$500 million in 2025, according to the statement.
Shares rose nearly 2% in midday trade Wednesday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.