North East technology firm Kromek is cementing its strength in security markets after winning a second long-term contract in the sector this year.
The Sedgefield firm , which is based at NETPark, has announced a five-year deal with a new customer which is a leader in X-ray imaging systems.
The radiation detection technology company, which also works in the medical and nuclear markets, said the five-year deal is worth $2m (£1.54m) over the period.
The work will see the manufacturer incorporate Kromek’s technology into its baggage security screening systems, which will boost detection of an extensive range of threat materials.
This marks the second long-term contract Kromek has signed in the security screening market this year, following the announcement in February of a five-year $3.1m (£2.39m) agreement with an existing US customer that is an emerging leader and global company in the homeland security marketplace.
Dr Arnab Basu, chief executive officer of Kromek, said: “We are delighted to secure another long-term contract with a new OEM customer in the security screening market.
“This agreement further demonstrates the demand for our products and technology as all OEMs in this arena begin upgrading their legacy systems to bring them in line to detect modern day threats. We look forward to working with this new customer and developing a long-term relationship with them.”
The announcement comes just over two weeks after the firm was awarded a new contract by a health sector customer worth at least £4.1m.
The radiation detection specialist already has contracts with the firm, which works in the bone mineral densitometry sector, which involves making detectors which are used to determine a patient’s bone quality, helping doctors in the diagnosis and management of diseases such as osteoporosis.
In June the firm posted full year results showing growth in turnover of 7.5% from £8.3m to £9m.
Mr Basu pledged a “step change” at the firm that will see it pull off larger contracts and boost revenue by 40% this year.
Over the last 24 months the firm has won more than $40m (£30.9m) in contracts across its market sectors as commercialisation has stepped up.