Chemring Group PLC Contract Update (9826T)
04 4월 2016 - 3:00PM
UK Regulatory
TIDMCHG
RNS Number : 9826T
Chemring Group PLC
04 April 2016
CHEMRING GROUP PLC ("Chemring")
CONTRACT UPDATE
Chemring is pleased to announce that implementation of the 40mm
ammunition contract to an end user in the Middle East, referred to
in the 21 January 2016 results announcement, has commenced, with
the related letter of credit in place and advance payment now
having been received. Production activities at Chemring Ordnance
and its supply chain partners have begun. Initial revenue will be
recognised in Q2 FY16 and as previously advised, this multi-year
contract is expected to provide a significant contribution to
FY16.
-ENDS-
For further information:
Michael Flowers Group Chief Executive, Chemring Group PLC 01794 833901
Steve Bowers Group Finance Director, Chemring Group PLC 01794 833901
Rupert Pittman Group Director of Corporate Affairs, 01794
833901
Chemring Group PLC
Andrew Jaques MHP Communications 020 3128 8100
John Olsen
James White
Notes to editors
-- Chemring is a global business that specialises in the
manufacture of high technology products and services to the
aerospace, defence and security markets
-- Employing approximately 3,000 people worldwide, and with
production facilities in four countries, Chemring meets the needs
of customers in more than fifty countries worldwide
-- Chemring is now organised under three strategic product
segments: Countermeasures, Sensors & Electronics, and Energetic
Systems
-- Chemring has a diverse portfolio of products that deliver
high reliability solutions to protect people, platforms, mission
and information against constantly changing threats
-- Operating in niche markets and with strong investment in
research and development, Chemring has the agility to rapidly react
to urgent customer needs
www.chemring.co.uk
Cautionary statements
This announcement contains unaudited information based on
management accounts and forward-looking statements that are based
on current expectations or beliefs, as well as assumptions about
future events. These forward-looking statements can be identified
by the fact that they do not relate only to historical or current
facts. Forward-looking statements often use words such as
anticipate, target, expect, estimate, intend, plan, goal, believe,
will, may, should, would, could, is confident, or other words of
similar meaning. Undue reliance should not be placed on any such
statements because they speak only as at the date of this document
and, by their very nature, they are subject to known and unknown
risks and uncertainties and can be affected by other factors that
could cause actual results, and Chemring's plans and objectives, to
differ materially from those expressed or implied in the
forward-looking statements.
There are a number of factors which could cause actual results
to differ materially from those expressed or implied in
forward-looking statements. Among the factors that could cause
actual results to differ materially from those described in the
forward-looking statements are; increased competition, the loss of
or damage to one or more key customer relationships, changes to
customer ordering patterns, delays in obtaining customer approvals
for engineering or price level changes, the failure of one or more
key suppliers, the outcome of business or industry restructuring,
the outcome of any litigation, changes in economic conditions,
currency fluctuations, changes in interest and tax rates, changes
in raw material or energy market prices, changes in laws,
regulations or regulatory policies, developments in legal or public
policy doctrines, technological developments, the failure to retain
key management, or the key timing and success of future acquisition
opportunities or major investment projects.
Chemring undertakes no obligation to revise or update any
forward-looking statement contained within this announcement,
regardless of whether those statements are affected as a result of
new information, future events or otherwise, save as required by
law and regulations.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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April 04, 2016 02:00 ET (06:00 GMT)
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