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Veem Ltd ( (AU:VEE) ) just unveiled an update.
VEEM Limited and Sharrow have announced a plan to accelerate the development and production of the SHARROW by VEEM propellers, with a focus on increasing output for inboard applications. Sharrow will manage customer interactions and sales while VEEM optimizes manufacturing, aiming to design, test, produce, and install 75 vessels within the next 12 months, initially targeting North American pre-order customers. This collaboration aims to deliver advanced propulsion technology at scale, potentially enhancing VEEM’s market position and operational scope.
More about Veem Ltd
VEEM Limited is a designer and manufacturer of innovative marine propulsion and stabilization systems, catering to the global luxury motor yacht, fast ferry, commercial workboat, and defense industries.
YTD Price Performance: -29.75%
Average Trading Volume: 126,064
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$115.4M
See more data about VEE stock on TipRanks’ Stock Analysis page.