(Alliance News) - Spectra Systems Corp said Wednesday it has won a comprehensive services contract with an unnamed central bank for the development, manufacture and servicing of a sensor system for this customer.
Shares in Spectra - which specialises in machine-readable high speed banknote authentication, brand protection technologies, and gaming security software - were 14% higher in London on Wednesday at 196.00 pence each.
The contract includes USD1.9 million to initiate Phase 1 development work and has three major additional phases which include a USD5.6 million Phase 2 development through 2023, as much as USD34 million for the delivery of an as yet unspecified number of sensors, and a service component worth about USD7.5 million.
Chief Executive Nabil Lawandy said: "We are pleased that this technologically sophisticated central bank has provided us with the opportunity to provide new cutting edge sensors for their cash operations."
By Paul McGowan; paulmcgowan@alliancenews.com
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Spectra (unres) (SPSY)