2nd Jul 2015 07:03
LONDON (Alliance News) - Authentication technology supplier Spectra Systems Corp on Thursday said it has signed a nine-year supply deal with an unnamed Chinese secure documents manufacturer.
The contract covers the supply of at least USD5.6 million of high-margin materials by Spectra and up to USD0.5 million in hand-held readers over the course of the contract. The terms of the deal also requires a minimum annual materials revenue of GBP0.625 million, whether or not the materials are ordered.
"We are extremely pleased about the penetration of our security products into Asia. Our customer is a supplier of government certificates with strong ties to other customers, which we hope will drive our revenues further," said Nabil Lawandy, Spectra's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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