Business
New five-year security screening contract
New five-year security screening contract.
About this update from Kromek Group Plc
[{"type":"text","content":"\n \nRNS Number : 6575P Kromek Group PLC 04 September 2017 \n\n4 September 2017\n \nKromek Group plc\n(\"Kromek\" or the \"Company\")\n \nKromek Secures Five-Year Agreement with New Customer in Security Screening Market\n$2m contract with a new OEM customer is the second long-term contract Kromek has won in the security screening market in 2017\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, worth $2.0m over the period, by a new OEM customer, a leading company in X-Ray Imaging Systems.\n \nUnder the terms of the agreement, the customer will incorporate Kromek's technology into its baggage security screening systems to enhance detection of an extensive range of threat materials. Revenues from the agreement will commence in the current full year 2017/2018. \n \nThis is the second long-term contract Kromek has signed in the Security Screening Market in 2017, following the announcement in February 2017 of a five-year $3.1m agreement with an existing US-based customer that is an emerging leader and global company in the homeland security marketplace.\n \nDr Arnab Basu, Chief Executive Officer of Kromek, said: \"We are delighted to secure another long-term contract with a new OEM customer in the security screening market. This agreement further demonstrates the demand for our products and technology as all OEMs in this arena begin upgrading their legacy systems to bring them in line to detect modern day threats. We look forward to working with this new customer and developing a long-term relationship with them.\" \n \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 Group (global HQ in County Durham) and a leading developer of high performance radiation detection products based on cadmium zinc telluride (\"CZT\") and...