NIITEK CONTRACT AWARD

RNS Number : 4240C

Chemring Group PLC

01 May 2012

 



FOR IMMEDIATE RELEASE                                                                                       1 MAY 2012

CHEMRING GROUP PLC

NIITEK AWARDED MULTI-YEAR HMDS CONTRACT

Chemring Group PLC ("Chemring") is pleased to announce that its US subsidiary, Non-Intrusive Inspection Technology, Inc. ("NIITEK"), has been awarded a sole source US Army Indefinite-Delivery/Indefinite-Quantity ("IDIQ") contract for the Ground Penetrating Radar ("GPR") Husky Mounted Detection System ("HMDS"). The IDIQ has a ceiling of $579 million, with an initial order of $161 million. This contract provides the US Army the ability to procure spares and replacement systems to replenish theatre sustainment stock. Additionally, this contract will serve future system requirements for the US Army, the US Marine Corps, and potential Foreign Military Sales. 

Dr David Price, Chief Executive of Chemring, commented: "We are delighted to have been chosen by the US Army to continue to supply HMDS sustainment into the future. This award confirms our customer's continued confidence in the HMDS system's effectiveness and our proven track record for developing superior and market leading detection solutions. The HMDS continues to contribute to the safety of US and coalition forces, and this contract will ensure operational availability of these critical systems."

For further information:

Dr David Price	Chief Executive, Chemring Group PLC	01489 881880
Paul Rayner	Finance Director, Chemring Group PLC	01489 881880
Rupert Pittman	Director of Communications and Investor Relations, Chemring Group PLC	01489 881880
Anthony Cardew/ Emma Crawshaw	Cardew Group	020 7930 0777

Notes to Editors:

• Chemring is a manufacturing business with facilities in eight countries selling high technology electronics and energetic products to over eighty countries worldwide.

• The Company has a diverse portfolio of products protecting military people and platforms against a constantly changing threat.

• Operating in high margin, niche markets with short product development timescales, Chemring has the agility to rapidly react to urgent customer needs.

• Chemring adopts a balanced strategy of organic growth and small bolt-on acquisitions, and maintains balanced geographic and market profiles, with a growing presence in non-NATO countries.

• Strong R&D investment for new products and improvements in technology continually allows Chemring to expand its addressable markets.

• NIITEK, which was acquired by Chemring in December 2008, is the leading US producer of vehicle-mounted Ground Penetrating Radar ("GPR") systems. NIITEK's GPR systems are at the leading edge of mine detection technology and are currently being used by US forces to protect their soldiers on the ground.

www.chemring.co.uk

 

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