Roke Contract Award

Chemring Group PLC

14 January 2025

 

FOR IMMEDIATE RELEASE                                                                                  14 JANUARY 2025

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

ROKE STRATEGIC SUPPLY AGREEMENT WITH MAJOR US PRIME CONTRACTOR

Chemring is pleased to announce that Roke has signed a multi-year agreement with a major US Prime Contractor for the supply of its high-speed Miniature Radar Altimeter ("MRA").

With its compact design and integrated antenna, Roke's MRA is the smallest and lowest mass radar altimeter of its type currently available for use in missile systems and uncrewed air vehicles. Roke's proprietary software algorithms and digital signal processing hardware enable highly accurate altitude measurement over land and sea when operating in high speed, low altitude, austere environments.

With a value of at least £26m (US$32m) over four years with deliveries commencing in October 2025, production will take place at Roke's Romsey, UK, site.

Michael Ord, Chief Executive of Chemring, commented:

"This agreement with a major US Prime Contractor is another success in Roke's strategy to grow revenues from their portfolio of world-leading defence products and systems. It also demonstrates the critical role we play in multiple space and missiles programmes is not confined to our Energetics businesses. Roke continues to see growing interest in its range of defence capabilities and has a significant medium-term pipeline of opportunities valued at more than £300m."

ENDS

For further information:

Rupert Pittman           Group Director of Corporate Affairs,                                     01794 463401

                                      Chemring Group PLC             

James McFarlane        MHP Group                                                                 07584 142665

Ollie Hoare                                                                                                         07817 458804

Cautionary statement

This announcement may contain 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 FTSE250 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 2,700 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.com

 

END