The information contained within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
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16 October 2024
IMAGE SCAN HOLDINGS
PLC
("Image
Scan" or the "Company")
Contract Award
Update
Image Scan Holdings plc (AIM: IGE),
the specialist supplier of X-ray screening systems to the security
and industrial inspection markets, is delighted to announce that
further to the announcement made on 4 July 2024 that it has
successfully agreed and finalised the contract and commercial terms
with NP Aerospace Limited, a prominent UK defence contractor, for
the supply of its ThreatScan® portable X-ray system.
This contract is a significant
milestone for Image Scan Holdings plc, a supplier to NP Aerospace.
The testing and trial phase will commence shortly with completion
expected in the coming months. Following successful completion of
the trial, Image Scan will commence delivery of its ThreatScan®
portable X-ray systems. The contract is valued at approximately £3
million over a 36-month period. The contract will not impact FY24
with revenue and profits being largely recognised in FY25 and
FY26.
The ThreatScan® portable X-ray
system is designed to assist operators working in the defence and
security environment, enabling them to conduct rapid and accurate
threat assessments across a diverse range of operational scenarios.
The system comprises a portable X-ray generator, a detection panel,
and an operator's workstation running the Company's market-leading
image processing software. This system is complemented by a range
of customer-specific ancillary equipment, tailored to meet the
demanding needs of the defence sector.
Vince Deery, Image Scan's Chief Executive,
commented: "We are thrilled to have successfully agreed
the contract with NP Aerospace, marking a key achievement in our
strategic collaboration. The agreement reflects the strength of our
relationship and mutual commitment to delivering high-performance
solutions. As we now move forward together into the testing and
trials phase, we are confident that this partnership will further
enhance our ability to meet the evolving challenges of the defence
and security industry"
Peter Hardisty Managing Director & Senior Vice President
Composite and Armour Systems at NP Aerospace
commented: "We're pleased to have
signed this contract with Image Scan Holdings plc that allows NP
Aerospace to offer solutions to a specific customer requirement,
that aligns with, and augments, our existing product and service
offerings. This contract will service a particular undisclosed
client's requirements, but we also look forward to offering this
capability to future clients who may have a similar
need."
For further information on the
Company, please visit: www.ish.co.uk and for further information on its products, please
visit: www.3dx-ray.com
-ENDS-
Image Scan Holdings plc
Tel: +44 (0) 1509
817400
Vincent Deery CEO
Sarah Atwell-King, CFO & Company
Secretary
Zeus - Nominated Advisor and
Corporate Broker
Tel: +44 (0)203 829 5000
Mike Coe/Sarah Mather (Corporate
Finance)
ABOUT IMAGE SCAN HOLDINGS PLC
About Image Scan Holdings plc
The core activity of the Group is the manufacture of portable
X-ray systems for security and counter terrorism applications. The
Group recently launched an updated and refreshed range of portable
products to compliment the previously revised cabinet-based x-ray
product line. All these products are taken to market across the
world through a strong network of international
partners.
In
addition, over the last sixteen years, Image Scan has developed and
manufactured industrial X-ray inspection systems, the MDXi range.
The primary market for these systems is in automotive emissions
control where they are used for quality control inspection of
catalytic converters and diesel particulate
filters.
For further information on the
Company, please visit: www.ish.co.uk - and for further information on its products, please
visit: www.3dx-ray.com