TIDMCHG
RNS Number : 7740Z
Chemring Group PLC
05 September 2018
FOR IMMEDIATE RELEASE 5 SEPTEMBER 2018
CHEMRING GROUP PLC ("Chemring", the "Group" or the
"Company")
NGCD NOTIFICATION
Chemring is pleased to announce that its US based subsidiary,
Chemring Sensors and Electronic Systems (CSES), has been notified
that it has been down selected as one of the suppliers on the first
stream of the Next Generation Chemical Detector (NGCD1). NGCD1, now
known as the Aerosol & Vapour Chemical Agent Detector (AVCAD),
is the long-term Program of Record for the US Department of Defense
to detect traditional and advanced threat vapours, and liquid and
solid aerosols.
The resultant contract award, which is expected to be received
in the coming months, is expected to take the form of an indefinite
delivery, indefinite quantity (IDIQ) contract and will be for the
Engineering and Manufacturing Development of the program, together
with options for varying quantities of hardware under Low Rate
Initial Production and Full Rate Production phases of the
program.
Michael Ord, Group Chief Executive of Chemring, commented:
"As the largest stream under the NGCD Program of Record, the
AVCAD award decision is a significant development for Chemring and
is the culmination of a number of years of research and development
activity. We are delighted to have been chosen on this long-term
program."
-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
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