Chemring Group PLC Contract Awards (5632A)
30 9월 2020 - 3:00PM
UK Regulatory
TIDMCHG
RNS Number : 5632A
Chemring Group PLC
30 September 2020
FOR IMMEDIATE RELEASE 30 SEPTEMBER 2020
CHEMRING GROUP PLC ("Chemring", the "Group" or the
"Company")
CONTRACT AWARDS
Chemring is pleased to announce that its US based subsidiary,
Chemring Countermeasures USA ("CCM USA") has won a competitive 5
year IDIQ contract valued at $49.9m for the supply of MJU-32/38
countermeasures. An initial delivery order of $11.3m will see
deliveries being made under this contract in FY21 and FY22. The
customer is the US Department of the Navy and all work under this
contract will be performed at the CCM USA facility at Toone,
Tennessee.
CCM USA has also been awarded a $33.6m delivery order from the
US Air Force for the manufacture and delivery of MJU-53/B
countermeasures. This award is the second delivery order under the
$90m three year IDIQ contract that was announced in September 2019.
Work under this contract will also be performed at CCM USA's
facility in Toone, Tennessee, with deliveries being made in FY21
and FY22.
These countermeasure products are a key element of an aircraft's
defensive aide suite which protect pilots and aircraft against the
threat from infrared guided missiles.
Michael Ord, Group Chief Executive of Chemring, commented:
" Winning this competitive IDIQ is further evidence of our
growing position in the global countermeasures market and supports
the Group's investment in its facilities. These two contracts build
on our existing strong order cover for FY21 and demonstrate our
customer's confidence in Chemring's ability to develop and supply
highly effective countermeasures."
-ENDS-
For further information:
Rupert Pittman Group Director of Corporate Affairs, 01794
463401
Chemring Group PLC
Andrew Jaques MHP Communications 020 3128 8100
James Bavister
Cautionary statement
This announcement contains 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.
Notes to editors
-- Chemring is a FTSE-250 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 2,500 people worldwide, and with
production facilities in four countries, Chemring meets the needs
of customers in more than fifty countries
-- Chemring is organised under two strategic product segments:
Sensors & Information and Countermeasures & 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
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