Contract Awards

RNS Number : 1420N

Chemring Group PLC

28 September 2021

 

FOR IMMEDIATE RELEASE                                                                  28 SEPTEMBER 2021

CHEMRING GROUP PLC ("Chemring", the "Group" or the "Company")

CONTRACT AWARDS

Chemring is pleased to announce a number of recent contract awards in its Countermeasures & Energetics sector.

Chemring Australia has been awarded a firm-fixed-price contract valued at US$22m for the supply of MJU-68/B infrared countermeasures in support of the F-35 programme. The customers are both the US Navy and Air Force, and the Governments of Great Britain, Israel, Norway and the Netherlands.  Work under this contract will see deliveries being made in FY22.

Following a competitive solicitation process Chemring Countermeasures USA ("CCM USA") has been awarded a contract valued at US$12m for the manufacture and delivery of MJU-61A/B infrared countermeasures, which represents 100% of the customer's requirements under this solicitation. Deliveries for this contract will be made in FY22 and FY23 with all work planned to be completed at CCM USA's new automated production facility in Toone, Tennessee. 

These countermeasure products are a key element of an aircraft's defensive aide suite which protect pilots and aircraft against the threat from infrared guided missiles. 

Chemring Energetics UK received a contract valued at £9m for the supply of various demolition stores. The customer is the UK Ministry of Defence and deliveries under this contract will be made in FY22.

Michael Ord, Group Chief Executive of Chemring, commented:

"These awards maintain and strengthen Chemring's position in the niche Countermeasures & Energetics market, supporting our decision to invest in our facilities to protect and grow our market leading positions.

"These contracts add to our existing strong order cover for FY22 and also increases our visibility for FY23 and beyond."

-ENDS-

For further information:

Rupert Pittman  Group Director of Corporate Affairs,   01794 463401

Chemring Group PLC 

Andrew Jaques  MHP Communications                                                            020 3128 8170

James Bavister

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 FTSE-250 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 two strategic product segments: Sensors & Information and Countermeasures &  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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