TIDMCHG
RNS Number : 1420N
Chemring Group PLC
28 September 2021
FOR IMMEDIATE RELEASE 28 SEPTEMBER 2021
CHEMRING GROUP PLC ("Chemring", the "Group" or the
"Company")
CONTRACT AWARDS
Chemring is pleased to announce a number of recent contract
awards in its Countermeasures & Energetics sector.
Chemring Australia has been awarded a firm-fixed-price contract
valued at US$22m for the supply of MJU-68/B infrared
countermeasures in support of the F-35 programme. The customers are
both the US Navy and Air Force, and the Governments of Great
Britain, Israel, Norway and the Netherlands. Work under this
contract will see deliveries being made in FY22.
Following a competitive solicitation process Chemring
Countermeasures USA ("CCM USA") has been awarded a contract valued
at US$12m for the manufacture and delivery of MJU-61A/B infrared
countermeasures, which represents 100% of the customer's
requirements under this solicitation. Deliveries for this contract
will be made in FY22 and FY23 with all work planned to be completed
at CCM USA's new automated production facility in Toone,
Tennessee.
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.
Chemring Energetics UK received a contract valued at GBP9m for
the supply of various demolition stores. The customer is the UK
Ministry of Defence and deliveries under this contract will be made
in FY22.
Michael Ord, Group Chief Executive of Chemring, commented:
"These awards maintain and strengthen Chemring's position in the
niche Countermeasures & Energetics market, supporting our
decision to invest in our facilities to protect and grow our market
leading positions.
"These contracts add to our existing strong order cover for FY22
and also increases our visibility for FY23 and beyond."
-ENDS-
For further information:
Rupert Pittman Group Director of Corporate Affairs, 01794
463401
Chemring Group PLC
Andrew Jaques MHP Communications 020 3128 8170
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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END
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