LONDON (Alliance News) - Kromek Group PLC on Monday said it has secured a GBP3 million revolving credit facility from HSBC Bank PLC, part of HSBC Holdings PLC.
Kromek, the radiation detection technology company, said the funds will be used for working capital and to back the growth of the business.
"We are pleased that HSBC has committed this credit facility to Kromek. Whilst we continue to make significant progress with our product portfolio approach, this financing will enable us to accelerate on executing our longer-term strategy to become the preferred component supplier to major manufacturers in CT and single-photon emission computed tomography and in the supply of network sensors in nuclear markets," said Kromek Chief Executive Officer Arnab Basu.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Kromek (KMK)