London-listed Kromek
(AIM: KMK ) has turned its manufacturing efforts to that of medical ventilators as it joins the fight against the coronavirus pandemic.
The supplier of detection technology said it will make ventilators to sell in the UK and globally under licence machinery developed by the Japanese firm Metran.
A leading ventilator manufacturer in Japan, Metran has specialised in the development and manufacture of respiratory equipment for over 30 years.
The group says production will commence before the end of the month and it expects to have 1,000 units available within eight weeks and up to 2,000 units within twelve weeks.
Shares in Kromek were trading 12.93% higher at 20.75p during morning trading.
Commenting on the partnership, Dan Nitta, President of Metran said, “We realised at an early stage of this crisis that we needed to think beyond our in-house manufacturing capability if we were to make a substantial impact.”
Kromek noted that it has been working with the British Embassy in Japan and the Department of International Trade in order to secure the technology transfer.
“By combining our existing manufacturing skills with Metran's proven technology, we expect to commence the manufacture of these robust ventilators from next week and deliver in a rapid manner,” said Dr Arnab Basu, CEO of Kromek.
Basu added that procuring the equipment would help safeguard and create employment in the North East as well as contributing to the region's fight against COVID-19.
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