2nd Oct 2019 12:15
(Alliance News) - Spectra Systems Corp said Wednesday it has signed a new five-year service contract with an unnamed Group of Seven central bank with a minimum value of USD400,000.
Under the contract, the banknote authentication and brand protection technology provider will provide routine maintenance and the contract has additional fees for time and materials if required.
"We are delighted that our long standing G7 customer has executed a renewal of a service contract, further underpinning the continued use of our materials in their banknotes. This five year contract layers on top of existing service contracts with a major worldwide printer of banknotes and additional service contracts with our G7 customer," said Chief Executive Officer Nabil Lawandy.
Shares in Spectra Systems were up 1.1% at 131.44 pence on Wednesday in London.
By Dayo Laniyan; [email protected]
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