Applied Graphene Materials Group PLC (LON:AGM) is eyeing new product opportunities in the Asia markets after successfully completing a re-alignment of its business.
In a statement to be delivered at its AGM on Tuesday, the graphene specialist said it was “actively pursuing an increased number of exciting opportunities in Asia” following its attendance of the Deep Tech Conference in Beijing, run by IP Group Plc (LON:IPO), in October.
The company added that a “re-alignment process” begun that month has also concluded and achieved the cost reductions required. In early October the company had unveiled plans to streamline its manufacturing segment to save up to £900,000 in operating costs for its 2020 financial year.
Meanwhile, AGM said it was “pleased” with the launch of products containing its graphene material from Briggs, Halfords, Alltimes and Blocksil in the first four months of its current year and that it will observe their development in the future.
“Our intent remains to become a global graphene market leader and the board believes that Applied Graphene Materials remains well placed to meet its ambitions", said chairman Bryan Dobson.