Company Image Scan Holdings PLC
TIDM IGE
Headline New Orders
Released 26 May 2006
Reference Scanlogik Agreement
Image Scan Holdings Limited wins £500,000 New Order Agreement
Image Scan Holdings Limited (ISH) is pleased to announce that it has reached a
formal agreement to supply software and key hardware to Scanlogik Limited
("Scanlogik") for their new generation of x-ray baggage systems, which Scanlogik
launched in April this year. The agreement, which is essentially a software
licence agreement, provides a framework order worth a minimum of £500,000 over
the next 18 months, with prospects for this figure to grow substantially within
that period and in subsequent years. Exploiting the Company's acknowledged
excellence in x-ray imaging, Scanlogik plans initially to incorporate ISH
technology into its new Vertigo range of conventional baggage systems and, in
the short to medium term, into a range of new products addressing the growing
needs of the security sector.
The worldwide need for advance x-ray baggage scanning systems has grown rapidly
since 9/11 and both ISH's 2D and 3D x-ray scanning technologies provide a unique
edge in this marketplace.
Mike Loughlin, MD Scanlogik Limited says:
"With our new Vertigo system we wanted to reduce our time to market and offer
our customers the best technology available - Image Scan offered us the unique
opportunity of achieving both of these goals through a single British company.
Following the Vertigo system's launch in April, significant orders have already
been received and extremely strong growth prospects exist for this and our
scheduled release of new products. Scanlogik is looking to become one of the
top suppliers of security equipment and sees Image Scan technology as one of the
key elements in that strategy."
Nick Fox, CEO of ISH says
"Scanlogik is an exciting new company in the security world. With substantial
financial support, innovative marketing concepts and state of the art
technology, we are delighted to have secured this agreement with them in light
of the alternatives that are available. We recognise the huge opportunity that
this agreement opens for us and look forward to future announcements relating to
new products within the Scanlogik range.
This order is typical of the way both our security and industrial market
customer base is broadening and growing. We continue to develop considerable
sales momentum"
For further information, please contact:
Image Scan Holdings plc Tel: +44 (0) 1664 503 600
Nicholas Fox, CEO info@ish.co.uk
The Palmer & Rose Partnership Tel: +44 (0) 1494 637 499
Gerry Palmer gerry@palmer-rose.co.uk
KBC Peel Hunt Tel: +44 (0) 121 698 8505
Nick Maslen nick.maslen@kbcpeelhunt.com
About Image Scan Holdings plc
Image Scan Holdings plc (AIM: IGE) is focused on the development and
commercialisation of market leading real-time 3D and 2D x-ray solutions for use
in the global industrial and security inspection markets. The company's
industrial inspection solutions include the MDXi unit and the X-line systems.
The security portfolio includes a unique 3D baggage inspection system for
corporate and airport security and TPXi, a portable bomb and suspect package
detection system.
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.
END
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