Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksKromek Regulatory News (KMK)

Share Price Information for Kromek (KMK)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 5.70
Bid: 5.50
Ask: 6.20
Change: 0.00 (0.00%)
Spread: 0.70 (12.727%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 5.70
KMK Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Kromek to produce ventilators to fight COVID-19

15 Apr 2020 07:00

RNS Number : 6476J
Kromek Group PLC
15 April 2020
 

15 April 2020

 

Kromek Group plc

("Kromek" or the "Group")

 

Kromek to commence production of Metran-based ventilators for COVID-19 response

 

Kromek (AIM: KMK), a worldwide supplier of detection technology focusing on the medical, security screening and nuclear markets, is pleased to announce that it intends to commence the manufacture and sale of medical ventilators in the UK and globally under license from Metran Co., Ltd ("Metran"), a Japan-based leading developer of medical ventilator products and technology, to support the COVID-19 response.

 

Kromek expects to commence production of ventilators before the end of April 2020 and to produce up to 2,000 units within twelve weeks, with 1,000 units available within eight weeks. Following the signing of a license agreement, which is expected shortly, Kromek intends to sell the ventilators in the UK and globally.

 

For over 30 years, Metran has specialised in the development and manufacture of respiratory equipment, and it is Japan's leading ventilator manufacturer. Its ventilators offer an effective solution to the current crisis where ventilators need to be manufactured rapidly to meet public health demands.

 

Dr Arnab Basu, CEO of Kromek, said: "We have been working through the British Embassy in Japan with substantial help from the Department of International Trade and are delighted to be progressing this technology transfer. By combining our existing manufacturing skills with Metran's proven technology, we expect to commence the manufacture of these robust ventilators from next week and deliver in a rapid manner. Any procurement of this equipment from Kromek is expected to have the additional benefit of safeguarding and creating employment in the North East as well as contributing to this region's fight against COVID-19. We look forward to the ongoing relationship with Metran."

 

Dan Nitta, President of Metran, added: "We have seen an unprecedented demand for ventilation equipment in recent months. We realised at an early stage of this crisis that we needed to think beyond our in-house manufacturing capability if we were to make a substantial impact. Therefore, we reached out globally to find partners who could help us to expand our capacity, and we are pleased to form this relationship with Kromek. With a combination of Metran's experience in the ventilation field and Kromek's skill as a designer and manufacturer of advanced electronic equipment, we believe that we can make a substantial contribution to the fight against COVID-19."

 

This announcement contains inside information.

 

For further information, please contact:

 

Kromek Group plc

 

Arnab Basu, CEO

Derek Bulmer, CFO

 

+44 (0)1740 626 060

Cenkos Securities plc (Nominated Adviser and Broker)

 

Max Hartley (NOMAD)

Julian Morse (Sales)

 

+44 (0)20 7397 8900

Luther Pendragon (PR)

 

Harry Chathli

Claire Norbury

Alexis Gore

Joe Quinlan

+44 (0)20 7618 9100

 

 

About Kromek Group plc

 

Kromek Group plc is a technology group (global HQ in County Durham) and a leading developer of high performance radiation detection products based on cadmium zinc telluride ("CZT") and other advanced technologies. Using its core technology platforms, Kromek designs, develops and produces x-ray and gamma ray imaging and radiation detection products for the medical, security screening and nuclear markets.

 

The Group's products provide high resolution information on material composition and structure and are used in multiple applications, ranging from the identification of cancerous tissues to hazardous materials, such as explosives, and the analysis of radioactive materials.

 

The Group's business model provides a vertically integrated technology offering to customers, from radiation detector materials to finished products or detectors, including software, electronics and application specific integrated circuits ("ASICs").

 

The Group has operations in the UK and US (California and Pennsylvania), and is selling internationally through a combination of distributors and direct OEM sales.

 

Currently, the Group has over one hundred full-time employees across its global operations. Further information on Kromek Group is available at www.kromek.com and https://twitter.com/kromekgroup.

 

About Metran Co., Ltd

 

Metran is a manufacturer of medical devices specializing in the respiratory field. Our flagship product is the Humming series of neonatal ventilators, based on global best-in-class piston-based High Frequency Oscillation. We also manufacture CPAP devices, oxygen concentrators and provide contract R&D services. Metran's HQ is in Saitama, Japan, with a factory and R&D base in Ho Chi Minh, Vietnam. Metran currently has around 130 employees at its sites in Japan and Vietnam.

 

For more information about Metran, please visit our webpage at www.metran.co.jp

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCSFFFALESSEDL
Date   Source Headline
26th Mar 20247:00 amRNSKromek receives $2.1m security screening order
6th Mar 20243:21 pmRNSHolding(s) in Company
4th Mar 202412:16 pmRNSHolding(s) in Company
4th Mar 202411:51 amRNSResult of General Meeting
5th Feb 202410:17 amRNSConversion of £1.5m of Convertible Loan Notes
5th Feb 20247:00 amRNSKromek granted £1.3m under Horizon Europe scheme
30th Jan 20247:00 amRNSInterim Results
25th Jan 20247:00 amRNSKromek receives £1.4m CBRN order for EU stockpile
23rd Jan 20247:00 amRNSNotice of Results
18th Jan 20247:00 amRNSKromek receives $1.6m in advanced imaging orders
7th Nov 20237:00 amRNSCollaboration agreement with new CT partner
31st Oct 20237:00 amRNSKromek receives additional $1m in CBRN orders
26th Oct 20237:00 amRNSFirst US DHS Contract for Biosecurity for $5.9m
9th Oct 20234:59 pmRNSHolding(s) in Company
5th Oct 20237:00 amRNSHolding(s) in Company
28th Sep 202311:25 amRNSResult of AGM
28th Sep 20237:00 amRNSFinancing Update
14th Sep 20237:00 amRNSPartial Conversion of Convertible Loan Notes
12th Sep 20237:00 amRNSKromek detectors in new Spectrum Dynamics scanner
1st Sep 20235:00 pmRNSNotice of AGM and Publication of Annual Report
24th Jul 20237:01 amRNSFinal Results
24th Jul 20237:00 amRNSAppointment of Joint Broker
5th Jun 20237:00 amRNSNew $1.5m CBRN contract in Asia
31st May 20239:05 amRNSHolding(s) in Company
25th May 20232:48 pmRNSResult of Open Offer, General Meeting and TVR
10th May 20231:39 pmRNSNotice of Investor Webinar
5th May 20233:46 pmRNSPlacing, Subscription, Open Offer and Notice of GM
2nd May 20237:00 amRNSKromek receives medical imaging order of c.$1.4m
19th Apr 20237:00 amRNSKromek and Analogic Collaboration Agreement
18th Apr 20237:01 amRNSTrading Update
18th Apr 20237:00 amRNSSeven-Year Agreement with Tier 1 OEM
29th Mar 20237:00 amRNSKromek secures orders totalling over $1m
22nd Mar 20232:51 pmRNSHolding(s) in Company
31st Jan 20237:00 amRNSKromek awarded c. £2.5m by Innovate UK
31st Jan 20237:00 amRNSInterim Results
9th Jan 20237:00 amRNSKromek Secures $0.8m Order for D3S ID
19th Dec 20227:00 amRNSFurther agreement with Smiths Detection
15th Dec 20229:32 amEQSKromek Group 'delighted' with new contracts
12th Dec 20227:00 amRNSKromek wins £1.5m in nuclear security contracts
16th Nov 20227:00 amRNSAward of £5m bio-threat contract by UK Government
10th Nov 20227:00 amRNSKromek awarded US nuclear security contract
17th Oct 202211:42 amRNSKromek detectors used in digital SPECT/CT scanner
28th Sep 202212:27 pmRNSResult of AGM
2nd Sep 20225:26 pmRNSNotice of AGM and Publication of Annual Report
23rd Aug 202211:10 amRNSFundraising of £1.14 million
5th Aug 20227:00 amRNSFundraising of £1.7m
3rd Aug 20222:05 pmRNSSecond Price Monitoring Extn
3rd Aug 20222:00 pmRNSPrice Monitoring Extension
2nd Aug 20227:00 amRNSFinal Results
2nd Aug 20227:00 amRNSKromek wins over $750k in new orders

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.