CHG Chemring Group Plc

TIDMCHG

RNS Number : 4241C

Chemring Group PLC

01 May 2012

FOR IMMEDIATE RELEASE 1 MAY 2012

CHEMRING GROUP PLC

CHEMRING COUNTERMEASURES AWARDED GBP21 MILLION CONTRACT

Chemring Group PLC ("Chemring") is pleased to announce that its UK subsidiary, Chemring Countermeasures Ltd ("CCM"), has been awarded a five year long term partnering agreement worth GBP21 million, with options for a further GBP38 million over the contract period. The contract is for a range of different infra-red ("IR") and radar frequency ("RF") types of airborne expendable decoy flares for the UK MoD, that are used by the Royal Air Force, Royal Navy and British Army to protect a number of fixed and rotary wing aircraft from the threat of IR and RF guided missiles. Deliveries of these flares are scheduled to begin in May 2012 and continue through to March 2017. All work will be performed at the CCM plant in Salisbury, Wiltshire.

Dr David Price, Chief Executive of Chemring, commented: "We are very pleased to receive this order from the UK MoD, who continue to express their confidence and trust in our IR and RF decoys. This award is recognition of CCM's focus on innovative product design, and a high standard of manufacturing, safety and quality in infra-red and radar frequency decoys for the UK and all our armed forces customers."

For further information:

 
                  Chief Executive, Chemring Group 
Dr David Price     PLC                               01489 881880 
                  Finance Director, Chemring Group 
Paul Rayner        PLC                               01489 881880 
                  Director of Communications and 
                   Investor Relations, Chemring 
Rupert Pittman     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.

www.chemring.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

END

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