Last checked at 16 Jan 2014 07:00
16 January 2014
Spectra Systems Corporation
("Spectra Systems")
Receipt of First Commercial Orders from New Material Manufacturing Facility
The Board is pleased to inform shareholders that Spectra Systems has now received a notice of quality assurance compliance and its first orders for current generation materials for covert banknote security to be produced at our new manufacturing facility. The orders were placed by Spectra Systems' security printing partner, a major worldwide supplier of banknote printing to over 150 central banks.
Nabil Lawandy, Spectra System's CEO, stated:
"These first orders are an important step to achieving our cost reduction strategy through manufacturing at our own facility. The combination of orders from our strategic licensing partner along with the eventual production for our own G8 customer from the new facility will both enhance the security of our products as well as result in a significant increase in margins."
Enquiries:
Spectra Systems Corporation
Dr. Nabil Lawandy, Chief Executive Officer Tel: +1 (0) 401 274 4700
WH Ireland Limited
Chris Fielding (Head of Corporate Finance) Tel: +44 (0) 20 7220 1650