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Kromek signs up another global original equipment manufacturer

Kromek has secured another leading OEM customer with substantial global operations.

Kromek Group PLC -

Kromek Group PLC (LON:KMK) has entered into a development agreement, worth up to US$660,000, with a US-based, sector-leading industrial original equipment manufacturer (OEM).

The majority of the development programme is scheduled to be delivered during the group's current financial year and, following final completion, it is expected to make the transition to a multi-year supply contract.

The AIM-listed supplier of detection technology focusing on the medical, security screening and nuclear markets, said the OEM will customise one of Kromek’s CZT detector platforms so it can be incorporated into its customer's systems for identifying contaminations during production processes.

“This is further validation of the strength of our solutions. It also demonstrates the versatility of our CZT-based detector platforms, which transform the imaging and detection capabilities of our customers' next-generation products to ensure we can live healthier and safer lives as well as reduce our customers' cost of operation. We look forward to working with our new customer to successfully complete this development programme and establishing a long-term relationship,” said Arnab Basu, the chief executive officer of Kromek in a statement.

Quick facts: Kromek Group PLC

Price: 16.761 GBX

AIM:KMK
Market: AIM
Market Cap: £57.77 m
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