Electro Optic Systems reviews European corporate office expansion
- Electro Optic Systems is reviewing plans to establish a corporate office in Europe.
- Shares in Electro Optic Systems traded at $9.82 following the market update.
- The company stated the potential office aims to capture expected growth in European defence demand.
Defence technology manufacturer Electro Optic Systems (ASX:EOS) is reviewing plans to open a European office to capture regional market growth.
The company initiated the review following media speculation regarding a potential relocation of its corporate headquarters to Europe.
"No decision has been made by the EOS board of directors to move EOS headquarters from Australia to Europe," said Electro Optic Systems Chairman Garry Hounsell.
Management stated that recommendations will be presented to the board of directors once the internal evaluation is complete.
Following the announcement, the Electro Optic Systems share price was unchanged at $9.82.
The contractor recently expanded its European operations through a $125 million laser weapon contract and its MARSS group acquisition.
The company stated that its secured order book expanded from $136 million to $459 million following increased global defence demand.
