LONDON (ShareCast) - (Sharecast News) - Kromek on Monday secured a new long-term supply contract to develop and deploy next-generation detector modules for a minimum of $7.8m.
The radiation detection technology company said the customer is a company in x-ray imaging systems and the contract is the second that Kromek has won for the baggage security screening market.

Arnab Basu, chief executive of Kromek, said: "This is another significant, long-term contract in the security screening market for Kromek. It continues a trend of multi-year contracts we are signing as customers move away from legacy systems and embrace CZT detection technology."

Covering a five-year period, the contract will see AIM traded company Kromek customise currently existing CZT detector modules, allowing for enhanced detection of an extensive range of threat materials.

"Our expertise makes us ideally positioned to develop customer-specific detector modules and to efficiently deploy these in advanced screening systems for real-world use. We look forward to rolling out this detection technology to help protect staff and passengers at airports, border crossings and other points of entry or areas of security concern," said Basu.

Kromek's shares were up 8.60% at 25.25p at 1018 GMT.

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