CHG Chemring Group Plc

    RNS Number : 6525I
  Chemring Group PLC
  21 November 2008
   

    FOR IMMEDIATE RELEASE                                                                                       21 NOVEMBER 2008


    CHEMRING GROUP PLC

    CHEMRING AUSTRALIA AWARDED A$160 MILLION CONTRACT


    Chemring Group PLC ("Chemring" or "the Group") is pleased to announce that its Australian subsidiary, Chemring Australia Pty Ltd
("Chemring Australia"), based in Victoria, Australia, has been awarded a long-term contract for the supply of countermeasures and
pyrotechnics to the Commonwealth of Australia. The contract is worth A$160 million (�68 million) over an initial ten year period. 

    As part of the arrangement, Chemring Australia will invest A$18 million (�7.6 million) in the establishment of a new, start-of-the-art
manufacturing facility near Melbourne, as well as creating a research and development centre for the design of future products. Construction
of the new facility will commence shortly and is expected to be completed in 2010. Forty new jobs will be created initially at Chemring
Australia as a result of this investment.

    The new manufacturing capability will also enable Chemring Australia to bid for the second-source supply of countermeasures for the
Joint Strike Fighter, and the additional production capacity will be utilised in Chemring's global supply chain to satisfy export flare
requirements.     

    Dr David Price, Chief Executive of Chemring, commented: "This contract establishes Chemring as the principal supplier of countermeasures
and pyrotechnics to the Australian armed forces. The new state-of-the-art manufacturing facility will allow Chemring Australia to meet
Australian operational requirements and will provide additional manufacturing capacity to satisfy the increasing demands of our global
export customers. With the award of this contract, the Group's order book now stands at a record �477 million, up 47% since October 2007." 



    For further information:

 Dr David Price  Chief Executive, Chemring Group PLC   01489 881880
 Paul Rayner     Finance Director, Chemring Group PLC  01489 881880
 Rupert Pittman  Cardew Group                          020 7930 0777 




This information is provided by RNS
The company news service from the London Stock Exchange
 
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