CONTRACT AWARD (4974V)
13 1월 2012 - 4:00PM
UK Regulatory
TIDMCHG
RNS Number : 4974V
Chemring Group PLC
13 January 2012
FOR IMMEDIATE RELEASE 13 JANUARY 2012
CHEMRING GROUP PLC
SIMMEL AWARDED EUR38 MILLION PYROTECHNIC CONTRACTS
Chemring Group PLC ("Chemring") is pleased to announce that its
Italian subsidiary, Simmel Difesa S.p.A.("Simmel"), has been
awarded further contracts to the value of EUR38 million for the
delivery of 81mm pyrotechnic illumination mortar rounds. This award
amends and extends existing contracts that were awarded in 2010,
which amounted to EUR24.5 million, and raises the total replacement
contracts to EUR62.5 million. Deliveries under the contracts will
be made over the period from 2012 to 2014.
Dr David Price, Chief Executive of Chemring, commented: "I am
delighted with today's announcement. It confirms Chemring's leading
role within the pyrotechnics industry and the sustained requirement
for these products despite current defence cuts."
Simmel, based in Colleferro, Italy, is a key supplier of
energetics sub-systems such as fuzes, safety and arming systems,
warheads and modular charge systems for major ammunition prime
contractors around the world. The company is also a specialist
manufacturer of medium and large calibre ammunition, rockets and
illumination mortar rounds for a substantial number of NATO and
non-NATO armed forces. Simmel has a second site at Anagni, Italy,
where it has a specialist facility for the disposal of ordnance at
the end of its operational life.
For further information:
Dr David Price
Chief Executive
Chemring Group PLC 01489 881880
Rupert Pittman
Director of Communications & Investor Relations
Chemring Group PLC 07976 249289
Notes to Editors:
-- Chemring is a market leading manufacturing business supplying
high technology electronics and energetic products to over 80
countries around the world.
-- Chemring has a diverse portfolio of products that
predominantly protect military people and platforms, providing
insurance against a constantly changing threat. These range from
countermeasures to protect aircraft, to ground penetrating radar to
protect troops and vehicles from improvised explosive devices.
-- Chemring operates in high margin, niche markets with short
product development timescales. With strong barriers to entry the
business has the agility to rapidly adapt to the urgent needs of
our customers. The highly fragmented nature of many of its markets
gives Chemring excellent opportunities to win further market share
through manufacturing efficiencies and targeted acquisitions.
-- Chemring's balanced geographic profile and diverse global
markets positions it well to withstand economic downturn in any of
its major markets. This gives confidence to be able to successfully
navigate current defence cuts experienced in the US and Europe.
Chemring continues to grow its presence in the Middle East and Asia
and expects non-NATO revenues to reach 40% of the Group over the
next two to three years.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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