Business
Five-Year Contract in Security Screening Market
Five-Year Contract in Security Screening Market.
About this update from Kromek Group Plc
[{"type":"text","content":"\n \nRNS Number : 4881X Kromek Group PLC 22 February 2017 \n\n22 February 2017\n \nKromek Group plc\n(\"Kromek\" or the \"Company\")\n \nKromek Awarded Five-Year Contract in Security Screening Market\nFirst long-term contract in security screening as customer moves from R&D phase to full commercialisation \n \nKromek (AIM: KMK), a radiation detection technology company focusing on the medical, security and nuclear markets, is pleased to announce that it has been awarded a five-year contract, valued at a minimum of $3.1m over the period, by an existing US-based customer that is an emerging leader and global company in the homeland security marketplace. \n \nKromek has developed key components to be incorporated into the customers' new generation security screening system for the detection of explosives. This security screening equipment has regulatory certification and provides advanced capability for screening current threats, and is ideal for the detection of homemade explosives. \n \nDr Arnab Basu, Chief Executive Officer of Kromek, said: \"We are delighted to announce our first long-term contract in the security screening market. It is also significant because this is another OEM customer that has moved from being an R&D customer to one who is entering a commercial phase. This contract win adds to the visibility of revenues underpinning our belief in the continuing growth of the business and commercial traction resulting from the increasing adoption of our technology.\" \n \nEnquiries \n \n\n\n\n\nKromek Group plc\n\n\n\n\n\n\n\nArnab Basu, CEO\nDerek Bulmer, CFO\n\n\n+44 (0)1740 626 060\n\n\n\n\n\n\n\n\n\n\n\n\nCenkos Securities plc\n\n\n\n\n\n\n\nBobbie Hilliam (NOMAD)\nJulian Morse (Sales)\n\n\n+44 (0)20 7397 8900\n\n\n\n\n\n\n\n\n\n\n\n\nLuther Pendragon Ltd\n\n\n\n\n\n\n\nHarry Chathli, Claire Norbury, Alexis Gore \n\n\n+44 (0)20 7618 9100\n\n\n\n\n \n \nAbout Kromek Group plc\n \nKromek Group plc is a UK technology Group (global HQ in County Durham) and a leading developer of high performance radiation detection products based on cadmium zinc telluride (\"CZT\") and other advanced technologies. Using its core technology platforms, Kromek designs, develops and produces x-ray and gamma ray imaging and radiation detection products for the medical, securi...