Kromek Converts Intent Into Order, Gets First Exclusivity Payment

LONDON (Alliance News) - Radiation detection materials company Kromek Group PLC Tuesday said it has got a USD990,000 order for its Cadmium Zinc Telluride detectors from a long-standing customer, converting a letter of intent it had previously disclosed.

It expects to complete the majority of the order in its current financial year.

It said it has also received the expected USD1 million first year exclusivity payment from a customer in the Computed Tomography market, as part of the GBP5.3 million mutually exclusive development contract it also detailed when it listed on AIM last month.

Kromek shares were up 6.8% at 63.55 pence Tuesday morning

By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1

Copyright 2013 Alliance News Limited. All Rights Reserved.

Kromek