REG - Spectra Systems Spectra Systems-SPSC - Five Year Optical Materials Supply Contract

Spectra SystemsAnnouncement

11/06/2019 07:05

RNS Number : 7410B
Spectra Systems Corporation
11 June 2019
 


Spectra Systems Corporation
("Spectra" or the "Company")
Five year Optical Materials Supply Contract
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication, brand protection technologies, and gaming security software, is delighted to announce that it has entered into a five year contract extension with an existing optical materials customer, one of the largest suppliers of security inks for the banknote industry.
The contract has a minimum value of $3.2MM over 5 years commencing April 2020 and secures Spectra's revenues for this component of optical materials used in banknotes.
Dr. Nabil Lawandy, Chief Executive Officer, stated: "We are delighted to have executed this contract which secures the use of our phoshour materials in some of the world's leading banknotes.  This contract, along with other recent service  and sensor development contracts further underpins our revenues and earnings visibility going forward."
Enquiries:




Spectra Systems Corporation
Dr. Nabil Lawandy
 


 
Tel: +1 (0)401 274 4700
 




WH Ireland Limited
Chris Fielding (Managing Director, Corporate Finance)


 
Tel: +44 (0)207 220 1650
 




 




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
 
 
CNTGGUACQUPBGQU