Chemring Group PLC Contract Award (5416U)
29 3월 2023 - 3:00PM
UK Regulatory
TIDMCHG
RNS Number : 5416U
Chemring Group PLC
29 March 2023
FOR IMMEDIATE RELEASE 29 MARCH 2023
CHEMRING GROUP PLC ("Chemring", the "Group" or the
"Company")
CONTRACT AWARD
Chemring is pleased to announce that its UK subsidiary, Chemring
Energetics UK, has received an order valued at GBP43m for the
delivery of critical components used in the Next Generation Light
Anti-Tank Weapon system ("NLAW"). This award follows the GBP229m
contract that was placed on SAAB by the UK Ministry of Defence in
December 2022.
With some of the components required to fulfil this order having
long lead times, the Group expects to see deliveries under this
contract commencing in 2024 and continuing into 2025 and 2026.
Michael Ord, Group Chief Executive of Chemring, commented:
" This significant award maintains and strengthens Chemring's
position in the specialist materials and propellants market, which
is seeing increased levels of activity as customers re-evaluate
their requirements for conventional defence capabilities resulting
from the evolving threat environment.
"Building on our already strong order book this contract
increases visibility in our Countermeasures & Energetics
segment for FY24 and beyond."
-ENDS-
For further information:
Rupert Pittman Group Director of Corporate Affairs, 01794
463401
Chemring Group PLC
James McFarlane MHP Communications 020 3128 8100
Ollie Hoare
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.com
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END
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