Business
New $12.6m contract with existing OEM customer
New $12.6m contract with existing OEM customer.
About this update from Kromek Group Plc
[{"type":"text","content":"\n \nRNS Number : 5831W Kromek Group PLC 28 April 2016 \n\n \n28 April 2016\n \nKromek Group plc\n(\"Kromek\" or the \"Company\")\n \nKromek secures a five-year contract totalling $12.6m with long-standing OEM customer \n \nDevelopment and supply of detectors for launch of new generation of bone mineral densitometry systems\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 new contract with a current OEM customer, a worldwide producer and exporter of bone mineral density (\"BMD\") diagnostics systems, for developing and supplying detectors to be incorporated into the customer's new generation systems. The contract, worth $12.6m, is expected to start during the first half of the financial year to 30 April 2017 and to be delivered over a 5-year period. \n \nUnder the terms of the agreement, Kromek's detector modules will be incorporated into the customer's systems to produce some of the most accurate imaging to diagnose the strength and health of bones. The new generation of diagnostic systems will allow clinicians to accurately detect and monitor progression of osteoporosis in patients resulting in more effective treatment. \n \nArnab Basu, CEO of Kromek, said: \"It is very pleasing to secure such a significant contract from a long-standing customer. It strengthens our relationship with them and further validates the benefits of our BMD diagnostic systems. The agreement represents the continued healthy conversion of our pipeline into orders as we continue to win new business in the medical sector and across our key target markets of SPECT, CT and networked radiation detectors.\"\n \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 company (global HQ in County Durham) and a leading developer of high performance radiation detection products bas...