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Kromek inks nuclear security contract with new customer

Kromek Group PLC (LON:KMK) has 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. CEO Arnab Basu tells Proactive London how 2019 will see a massive ramp up for Kromek after the news and a successful placing which will see funds injected into key projects in both the nuclear security and medical imaging sectors. The topline 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. Basu explains how they're seeing strong international traction for their hand held radiation detector and how Kromek's focus now is to build capacity, buy more equipment and serve their customer base even more diligently in respect of the company's 'significant order pipeline'.

Quick facts: Kromek Group PLC

Price: 17.125 GBX

AIM:KMK
Market: AIM
Market Cap: £59.02 m
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Top stories from the Proactive Investors UK newsroom. Kromek (LON:KMK) has been awarded three contracts worth £1.6mln for its D3S platform for nuclear radiation detection. The largest contract, worth £1.1mln, is with a UK government-related company. Avation (LON:AVAP) has seen another...

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