Kromek Group (LON:KMK), the radiation technology company, has teamed up with CANBERRA Industries, a US-based provider of nuclear measurement solutions.
CANBERRA is to be the exclusive distributor for four product families from Kromek's nuclear portfolio across the globe, save for a few territories where Kromek already has distribution agreements in place.
Kromek expects to capitalise on CANBERRA's wide range of products, strong customer relationships and extensive channels to market.
Additionally, Kromek has entered into a three-year collaborative research & development (R&D) programme with the US company, which is expected to be worth more than US$900,000 over the life of the contract.
The two companies will work closely on new product development and customisation of existing products by using Kromek's expertise and intellectual property.
"We are delighted to be working with one of the world's leaders in nuclear measurement systems,” said Arnab Basu, chief executive officer of Kromek.
“CANBERRA is a global player with established channels to market, which we believe will accelerate our growth in our target markets. Equally, with our expertise in developing innovative technologies, Kromek will enhance CANBERRA's offering. We look forward to working with them and strengthening our relationship as we continue to grow in this key market," he added.
Shares in Kromek were up 1.7% in mid-morning trading.