Kromek Group PLC Award of Five-Year Contract from BMD Customer (2166O)
17 August 2017 - 4:00PM
UK Regulatory
TIDMKMK
RNS Number : 2166O
Kromek Group PLC
17 August 2017
17(th) August 2017
Kromek Group plc
("Kromek" or the "Company")
Kromek Awarded Five-Year Contract from Existing BMD Customer
New long-term order from existing BMD customer for use of
Kromek's CZT-based detector module in new medical diagnostics
product
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 new five-year contract by an
existing customer in the bone mineral densitometry ("BMD") sector
for the incorporation of its cadmium zinc telluride ("CZT")-based
detector modules in a new product. Delivery on the contract, which
is worth a minimum value of $5.38m, is expected to begin in the
current 2017/18 financial year.
Dr Arnab Basu, CEO of Kromek, said: "We are delighted to have
secured a further contract by an existing BMD customer as they
launch a new medical diagnostics product. It further validates our
belief that, as customers move away from legacy diagnostic systems,
CZT based detectors will become a core technology and we anticipate
to be one of the major suppliers to this segment. The agreement
also demonstrates the strong relationships we build with our
customers and the Company's commitment to securing further
contracts in the medical imaging sector."
Enquiries
Kromek Group plc 01740 626 060
Arnab Basu, CEO
Derek Bulmer, CFO
Cenkos Securities plc 020 7397 8900
Bobbie Hilliam (NOMAD)
Luther Pendragon 020 7618 9100
Harry Chathli, Claire Norbury,
Alexis Gore
About Kromek Group plc
Kromek 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 photon
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 radiation detector materials
to finished products or detectors, including software, electronics
and application specific integrated circuits ("ASICs").
The Group has operations in the UK and US (California and
Pennsylvania), and is selling internationally through a combination
of distributors and direct OEM sales.
Currently, the Group has over one hundred full time employees
across its global operations. Further information on Kromek Group
is available at www.kromek.com and
https://twitter.com/kromekgroup.
This information is provided by RNS
The company news service from the London Stock Exchange
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