TIDMCHG
Chemring Group PLC
02 July 2018
FOR IMMEDIATE RELEASE 2 JULY 2018
CHEMRING GROUP PLC ("Chemring", the "Group" or the
"Company")
CONTRACT AWARDS
Chemring Group is pleased to announce that its US based
subsidiary, Chemring Countermeasures USA ("CCM USA"), has been
awarded two contracts totalling approximately $42 million.
The first contract, which is for the manufacture and delivery of
M206 and MJU-7A/B infrared decoys for the US Army and Air Force, is
valued at approximately $32 million, and was awarded under CCM
USA's current 5-year Indefinite Delivery Indefinite Quantity
("IDIQ") contract with the US Army Garrison at Rock Island Arsenal.
Deliveries under this contract will be made between 2018 and 2019,
with all work to be performed at CCM USA's facility in Toone,
Tennessee.
The second contract, which is for the manufacture and delivery
of MJU-66 Special Material Decoys for the US Air Force, is valued
at approximately $10 million and is the second award under the $29
million IDIQ that was announced in August 2017. Deliveries under
this contract will be made in 2019, with all work to be performed
at CCM USA's facility in Chester Township, Pennsylvania.
Michael Ord, Group Chief Executive of Chemring, commented:
"These contracts demonstrate the continued confidence of the US
Army and Air Force in Chemring's ability to develop and supply
quality aircraft countermeasures, and it reinforces the Group's
decision to invest in the transformation project at our Tennessee
facility.
"These contracts complete the required FY18 order intake in our
Countermeasures segment, provide a strong platform for FY19, and
are further evidence of the recovery, and our strengthening
position, in the global countermeasures market."
-ENDS-
For further information:
Rupert Pittman Group Director of Corporate Affairs, 01794
833901
Chemring Group PLC
Andrew Jaques MHP Communications 020 3128 8100
James White
Notes to editors
-- Chemring is a global business that specialises in the
manufacture of high technology products and the provision of
services to the aerospace, defence and security markets
-- Employing approximately 2,600 people worldwide, and with
production facilities in four countries, Chemring meets the needs
of customers in more than fifty countries
-- Chemring is organised under three strategic product segments:
Countermeasures, Sensors, and Energetics
-- Chemring has a diverse portfolio of products that deliver
high reliability solutions to protect people, platforms, missions
and information against constantly changing threats
-- Operating in niche markets and with strong investment in
research and development ("R&D"), 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.
No statement in this announcement is intended as a profit
forecast for FY18 and no statement in this announcement should be
interpreted to mean that underlying operating profit for the
current or future financial years would necessarily be above a
minimum level, or match or exceed the historical published
underlying operating profit or set a minimum level of underlying
operating profit.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NRASSUEFFFASESW
(END) Dow Jones Newswires
July 02, 2018 02:00 ET (06:00 GMT)
Chemring (LSE:CHG)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Chemring (LSE:CHG)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024