Contract Award

RNS Number : 2161N

Chemring Group PLC

07 August 2017

 

                                                                                                                                                                                   7 AUGUST 2017

CHEMRING GROUP PLC

("Chemring" or "the Group")

CONTRACT AWARD

Chemring Group is pleased to announce that its US based subsidiary, Chemring Countermeasures USA (Alloy Surfaces / Kilgore Flares), has been awarded a two year contract to produce MJU-66 Special Material Decoys for the US Air Force. The total contract value is up to US$29 million, with an initial delivery order of US$18.4 million in the first year.  All work will be performed at Alloy Surfaces' facility in Chester Township, Pennsylvania.

Michael Flowers, Group Chief Executive of Chemring, commented:

"We are delighted to receive this contract which shall be delivered from our newly modernised Alloy Surfaces facility in Philadelphia. This award demonstrates continuing confidence by the US Air Force in Chemring as a provider of advanced countermeasures, specifically the MJU-66/B decoy, and it recognises our dedication to protecting military personnel.  We remain committed to being the preferred supplier of the highest quality special material decoys to both the US Department of Defense and our international customers."

For further information:

Rupert Pittman	Group Director of Corporate Affairs, Chemring Group PLC	[phone]
Andrew Jaques	MHP Communications	[phone]
James White

Cautionary statement

This announcement contains forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as anticipate, target, expect, estimate, intend, plan, goal, believe, will, may, should, would, could, is confident, or other words of similar meaning. Undue reliance should not be placed on any such statements because they speak only as at the date of this document and, by their very nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and Chemring's plans and objectives, to differ materially from those expressed or implied in the forward-looking statements. There are a number of factors which could cause actual results to differ materially from those expressed or implied in forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are: increased competition, the loss of or damage to one or more key customer relationships, changes to customer ordering patterns, delays in obtaining customer approvals for engineering or price level changes, the failure of one or more key suppliers, the outcome of business or industry restructuring, the outcome of any litigation, changes in economic conditions, currency fluctuations, changes in interest and tax rates, changes in raw material or energy market prices, changes in laws, regulations or regulatory policies, developments in legal or public policy doctrines, technological developments, the failure to retain key management, or the key timing and success of future acquisition opportunities or major investment projects. Chemring undertakes no obligation to revise or update any forward-looking statement contained within this announcement, regardless of whether those statements are affected as a result of new information, future events or otherwise, save as required by law and regulations.

Notes to editors

·    Chemring is a global business that specialises in the manufacture of high technology products and the provision of services to the aerospace, defence and security markets

·    Employing approximately 2,500 people worldwide, and with production facilities in four countries, Chemring meets the needs of customers in more than fifty countries

·    Chemring is organised under three strategic product segments: Countermeasures, Sensors, and Energetics

·    Chemring has a diverse portfolio of products that deliver high reliability solutions to protect people, platforms, missions and information against constantly changing threats

·    Operating in niche markets and with strong investment in research and development ("R&D"), Chemring has the agility to rapidly react to urgent customer needs

www.chemring.co.uk

 

END

 

 

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