Kromek Group PLC New contract with long-standing customer (3747M)
20 January 2016 - 6:00PM
UK Regulatory
TIDMKMK
RNS Number : 3747M
Kromek Group PLC
20 January 2016
20 January 2016
Kromek Group plc
("Kromek" or the "Company")
New contract with long-standing customer in bone mineral
densitometry segment
Repeat order for detector modules in key medical diagnostics
area
Kromek (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 further renewal of its
contract with a current customer for delivering its detector
modules to be incorporated into the customer's bone mineral
densitometry ("BMD") diagnostics systems. The new contract, worth
$957,000, is to be delivered over a 20-month period.
The contract is with an existing long-standing OEM customer. The
incorporation of the Company's detector modules in the customer's
systems enables the most accurate imaging technique to diagnose the
strength and health of bones, which allows clinicians to accurately
detect, monitor and treat Osteoporosis in patients.
Arnab Basu, CEO of Kromek, said: "We are delighted that this
long-standing customer has renewed their supply contract for
detectors, which further strengthens our relationship with them. We
continue to win repeat business from existing customers and BMD
remains a key segment offering growth opportunities over the next
12 to 18 months in addition to our three primary growth target
markets of SPECT, CT and networked radiation detectors."
Enquiries
Kromek Group plc
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Arnab Basu, CEO +44 (0)1740
Derek Bulmer, CFO 626 060
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Cenkos Securities plc
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Bobbie Hilliam (NOMAD) +44 (0)20 7397
Julian Morse (Sales) 8900
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Luther Pendragon Ltd
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Harry Chathli, Claire Norbury, +44 (0)20 7618
Alexis Gore 9100
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About Kromek Group plc
Kromek Group plc is a UK technology company (global HQ in County
Durham) and a leading developer of high performance radiation
detection products based on cadmium zinc telluride ("CZT"). Using
its core CZT technology, Kromek designs develops and produces x-ray
and gamma ray imaging and radiation detection products for the
medical, security screening and nuclear markets.
The Group's products provide high resolution information on
material composition and structure and are used in multiple
applications, ranging from the identification of cancerous tissues
to hazardous materials, such as explosives, and the analysis of
radioactive materials.
The Group's business model provides a vertically integrated
technology offering to customers, from the growth of CZT crystals
to finished products or detectors, including software, electronics
and application specific integrated circuits ("ASICs").
The Group has operations in the UK, Germany and US (California
and Pennsylvania), and is selling internationally through a
combination of distributors and direct OEM sales.
Currently, the Group has over a hundred full time employees
across its global operations. Further information on Kromek Group
is available at www.kromek.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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