Kromek wins contract extensions worth £1.6m from European and US customers

09:25 24/09/2019
StockMarketWire.com - Kromek, a worldwide supplier of detection technology focusing on the medical, security screening and nuclear markets, has announced that it has been awarded two extension contracts from a European customer and a component of the US Department of Homeland Security.

The contracts are worth an aggregate of approximately £1.6m and will be delivered in this current financial year.

The US Government's Countering Weapons of Mass Destruction Office, which is a component within the US Department of Homeland Security, has awarded Kromek a $0.7m extension contract to add further technical innovation capability to the D3S family of products.

The Group has also been awarded a £1.0m contract extension by a European government-related company to provide integration of Kromek's D3S-related technologies.

The customer is a company that works with a European government to detect and protect against potential nuclear threats, and the Group's solutions will be used for wide-area threat monitoring.

Arnab Basu, chief executive officer of Kromek, commented:

'The D3S family of products is gaining increasing momentum globally, with sales in 18 countries, as governments continue to adopt innovative solutions for countering the threat of nuclear terrorism.'

'We are also pleased to be receiving further orders from existing customers, which reflects the value that they gain from our solutions. With some of our multi-year trials approaching a successful conclusion, we look forward to additional product and system-level sales of this leading-edge solution in the future.'

At 9:25am: (LON:KMK) Kromek Group PLC share price was +0.1p at 25p


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