Structural Monitoring Systems
(ASX:SMN) has penned an updated agreement with The Boeing Company for the acquisition of products and services.
It has also been granted license rights to use Boeing proprietary data for the sale of products or services.
SMS Executive Vice President of Business Development, Rich Poutier, says the agreement "solidifies the working relationship between Boeing and the SMS management team, and the ongoing commercial advancement of the CVM™ sensor technology. Further, it opens the door to a quicker path for obtainment of certifications for future CVM™ applications”.
This follows Boeing's warning to investors on Wednesday that it may need to further slow or temporarily halt production of its 737 Max.
Shares in Structural Monitoring Systems
(ASX:SMN) closed 12.86 per cent higher at $0.79.
