CHG Chemring Group Plc

RNS Number:1574A
Chemring Group PLC
8 March 2001



 
                              CHEMRING GROUP PLC                              
                                                                              
                        AGM STATEMENT BY THE CHAIRMAN                         

 
In my recent Chairman's Statement, I indicated considerable confidence in the
future of the company. The acquisition of Kilgore announced at that time is a
major step in our expansion programme and I am happy to say that our closer
involvement with Kilgore makes us even more convinced of the excellent
prospects for this new member of our Group.  
 
Today I can announce that Kilgore has reached agreement (subject to certain
regulatory matters) to acquire the infra red decoy business and certain
assets of a division of Martin Electronics Inc of Florida, a manufacturer for
the US Department of Defense of identical countermeasure products to those of
Kilgore. The acquisition, which will be funded out of existing facilities,
brings with it an order book of US$15m. This additional business will be
manufactured at the Kilgore plant in Tennessee. A further announcement on the
acquisition, which is expected to be completed by the end of April 2001, will
be made in due course. 
 

K C SCOBIE

CHAIRMAN 
8 March 2001 

 
 
For further information please contact: 
 
David Evans          Chief Executive, Chemring Group PLC       01489 881880 
Jonathan Rooper      Cardew & Co.                              0207 930 0777 

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