Partnership Agreement For Brazilian Security Mkt
1 June 2018
Image Scan Holdings plc
("Image Scan" or the "Company")
NEW PARTNERSHIP AGREEMENT FOR BRAZILIAN SECURITY MARKET
The Board of Image Scan, manufacturers of X-ray imaging systems for the Security and Industrial Inspection markets, is pleased to report that it has signed an initial two-year partnership agreement (the "Agreement") with VMI SISTEMAS DE SEGURANÇA LTDA. ("VMI") to distribute Image Scan's portable X-ray security product range throughout Brazil and Latin America (together, the "Territories"). Pursuant to the Agreement, VMI will be responsible for distribution, local support and servicing of the Company's products across the Territories.
VMI, based near Belo Horizonte MG, (http://vmisecurity.com/) has extensive experience of the security markets in Brazil and Latin America and is the leading indigenous x-ray manufacturer in the region. VMI was formed in 1985 and has a turnover of approximately $40m USD employing over 400 staff.
The Agreement demonstrates Image Scan's focus on enhancing its sales and marketing presence in key strategic areas and expanding its geographical reach.
Commenting on the Agreement, Otavio Moraes, President and the son of the founder of VMI Group said, "Image Scan's range of portable X-ray products will be positioned in a number of sectors where we have a strong position and excellent end user relationships. With our strong relationships within the private and public sectors in Brazil and Latin America and Image Scan's portable product range, we fully expect to be successful in introducing its products to these markets."
Image Scan's Executive Chairman, Bill Mawer said "VMI has a large installed base of its own manufactured static x-ray systems and the Image Scan portable product range offers a complimentary offering to the existing and growing VMI user base. VMI combines the market presence and technical knowledge we need to drive rapid take up of the new portable X-ray products that have been launched from our product development programme."
For further information, please contact:
Image Scan Holdings plc Tel: +44 (0) 1509 817400
William Mawer, Chairman
Sarah Atwell-King, Company Secretary
Cantor Fitzgerald Europe Tel: +44 (0) 207 894 7000
Rick Thompson / David Foreman (Corporate Finance)
Alex Pollen / Caspar Shand Kydd (Sales)
About Image Scan Holdings plc
Image Scan Holdings plc (AIM: IGE) is focused on the development and commercialisation of market leading real-time X-ray solutions for use in the global Security and Industrial inspection markets. The Company's Security portfolio includes the ThreatScan® range of portable bomb and suspect package detection systems; the Axis range of baggage inspection systems; and SVXi, a small vehicle inspection system. The Industrial inspection solutions include the MDXi product range, cabinet X-ray systems for laboratories and production lines. The Company was founded in 1996 and joined AIM in 2002.
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