LONDON (Alliance News) - Detection technology company Kromek Group PLC on Tuesday said it has signed two deal with US-based nuclear measurement systems provider Canberra Industries Inc, covering product distribution and research and development collaboration.
Under the distribution deal, Canberra Industries will be Kromek's exclusive global distributor on four of its nuclear detection products. In addition, the pair have signed a three-year R&D collaboration deal, expected to be worth around USD900,000 to Kromek over the course of the contract.
"We are delighted to be working with one of the world's leaders in nuclear measurement systems. Canberra is a global player with established channels to market, which we believe will accelerate our growth in our target markets," said Kromek Chief Executive Arnab Basu.
Shares in Kromek were up 2.9% to 35.49 pence on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Kromek (KMK)