Advanced materials developer Antaria will change its focus from research and development to providing customer solutions based on the company’s technology.
Antaria’s board resolved to change the company’s focus following a strategic review of its businesses with a view to building revenues and cash returns for shareholders, the company announced in a statement yesterday.
The statement also announced a business restructure into three profit centres: sourcing, production and fulfilment; OEM reseller product sales; and advanced research and development.
Antaria will focus on promoting its signature ZinClear range of all-natural UV aborbers, following new sunscreen and daywear cosmetic regulations in Australia.
The announcement comes two months after Antaria announced it had been successful in a $4.5 million capital raising program.
Antaria was formed in 1997 as Advanced Nanotechnology at the University of Western Australia with an aim to commercialise advanced materials technology.
The company has since expanded from its research-based origins to become a developer of a broad range of advanced material opportunities.
Antaria shares were trading at 6.3 cents at 12.24pm WST today.