Proactive Investors - Run By Investors For Investors

Kromek lifted as it inks nuclear security contract with new customer

The contract, which carries a price tag of at least US$1.4mln, will begin immediately
Radiation detector
The contract will be delivered over a three year period, with minimum volumes annually

Kromek Group PLC (LON:KMK) shares were lifted on Tuesday after it secured a contract to supply its CZT radiation detectors to a new customer, an original equipment manufacturer (OEM), for use in the nuclear security market.

The contract, which carries a price tag of at least US$1.4mln, will begin immediately and be delivered over a three year period with minimum volumes for each year.

READ: Kromek proposes share placing to fund business expansion

Arnab Basu, Kromek’s chief executive, said that the contract increased the “visibility of future revenues” and, following a £21mln fundraise earlier this month, the firm was able to “capitalise on similar opportunities in this fast-growing market”.

In late-morning trading, Kromek shares were up 1.5% at 27p.

--Adds share price--

View full KMK profile View Profile

Kromek Group PLC Timeline

Related Articles

July 04 2019
The company has so far in 2019 signed a number of deals for its technology, including an agreement for safety features in self-driving cars
June 20 2019
"Passenger numbers for our West Africa airport operations for the first five months of 2019 are at record levels"
May 10 2019
The AIM-listed firm's 2018 results in March showed a 104% year-on-year jump in pre-tax earnings (EBIT) to £27.2mln, ahead of markets expectations, as revenues soared by 83% to £93.9mln

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use