Business
Kromek awarded contract by US based OEM customer
Kromek awarded contract by US based OEM customer.
About this update from Kromek Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1980Q\n Kromek Group PLC\n 26 October 2021\n \n \n \n 26 October 2021\n \n \n Kromek Group plc\n \n \n (\"Kromek\" or the \"Group\")\n \n \n \n Kromek awarded supply contract by US based OEM customer\n \n \n \n \n \n Up to $17million contract awarded following successful progression of development program\n \n \n \n Kromek (AIM: KMK), a worldwide supplier of detection technology focusing on the medical, security screening and nuclear markets, is pleased to announce that it has been awarded a seven-year supply agreement by a US based, sector-leading industrial OEM with a global customer base. The agreement for Kromek's first-generation contaminant detection solution, has a value of up to $17 million over the life of the contract and is expected to commence in the current financial year. \n \n The contract was awarded following the successful progression of a two-year development program announced on 02 November 2020. Under this program, Kromek provided a CZT based detector solution for incorporation into the OEM's systems for identifying contaminants during production processes for the purpose of product quality inspection. \n \n Dr Arnab Basu, CEO of Kromek, said:\n \n \"We are delighted at the success of our collaboration with our OEM customer who has substantial global operations and market share in this sector. Our customer is dedicated to introducing best-of-breed solutions in their next-generation products to ensure we can live healthier and safer lives. We anticipate developing further products for this customer to support their ambitions.\"\n \n This announcement contains inside information.\n \n \n For further information, please contact:\n \n \n \n \n \n \n \n \n \n Kromek Group plc \n \n \n \n \n \n \n \n \n Arnab Basu, CEO \n \n Paul Farquhar, CFO \n \n \n +44 (0)1740 626 060 \n \n \n \n \n \n \n \n \n \n \n \n \n \n Cenkos Securities plc (Nominated Adviser and Broker) \n \n \n \n \n \n \n \n Camilla Hume/Giles Balleny (NOMAD) \n Julian Morse (Sales) \n \n \n +44 (0)20 7397 8900 \n \n \n \n \n \n \n \n \n \n \n \n \n \n Luther Pendragon (Financial PR) \n \n \n \n \n \n \n \n Harry Chath...