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Newmark Security gains supply agreement with 'major' financial institution
Security solutions firm Newmark Security announced on Monday that its subsidiary Safetell Limited has secured a new supply agreement with an unnamed major UK financial institution.
The agreement, which involves the supply of physical security equipment such as cash handling and storage, is expected to earn the company between £1m and £1.5m, and will run from April for five years with options to extend to 11 years.
Anton Pieterse, managing director of Safetell, said: "We have supplied this customer for over 14 years which reflects the quality of our bespoke solutions and enduring support for major organisations all over the globe. We have been working in partnership with the client to develop customised security screens and parcel hatches that will be installed in various branches around the UK."
The company manufactures and supplies a wide range of security, counter-terror and target hardening products such as security screens, CCTV, doors and glazing, as well as maintenance and repairs.
"We are proud that major high street retailers not only choose Safetell but collaborate with us to develop physical security and counter-terror solutions that evolve with their customer requirements and ever-changing risk profile," said Pieterse.
As of 1523 BST, Newmark Security's shares were up 11.76% at 0.95p.