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Spectra Systems secures contract from central bank
StockMarketWire.com
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Banknote authentication group Spectra Systems said it had executed a services contract with a central bank for the development, manufacture and servicing of a sensor system.
The contract included $1.9 million to initiate phase-one development work and had three major additional phases.
These included a $5.6 million phase-two development through 2023 and a service component worth around $7.5 million.
'We are pleased that this technologically sophisticated central bank has provided us with the opportunity to provide new cutting edge sensors for their cash operations,' chief executive Nabil Lawandy said.
Story provided by StockMarketWire.com
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