Chemring Group PLC Contract Award (2161N)
August 07 2017 - 2:00AM
UK Regulatory
TIDMCHG
RNS Number : 2161N
Chemring Group PLC
07 August 2017
7 AUGUST 2017
CHEMRING GROUP PLC
("Chemring" or "the Group")
CONTRACT AWARD
Chemring Group is pleased to announce that its US based
subsidiary, Chemring Countermeasures USA (Alloy Surfaces / Kilgore
Flares), has been awarded a two year contract to produce MJU-66
Special Material Decoys for the US Air Force. The total contract
value is up to US$29 million, with an initial delivery order of
US$18.4 million in the first year. All work will be performed at
Alloy Surfaces' facility in Chester Township, Pennsylvania.
Michael Flowers, Group Chief Executive of Chemring,
commented:
"We are delighted to receive this contract which shall be
delivered from our newly modernised Alloy Surfaces facility in
Philadelphia. This award demonstrates continuing confidence by the
US Air Force in Chemring as a provider of advanced countermeasures,
specifically the MJU-66/B decoy, and it recognises our dedication
to protecting military personnel. We remain committed to being the
preferred supplier of the highest quality special material decoys
to both the US Department of Defense and our international
customers."
For further information:
Group Director of Corporate
Affairs, Chemring Group +44 (0) 1794
Rupert Pittman PLC 833901
+44 (0) 20
Andrew Jaques MHP Communications 3128 8100
James White
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 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 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
This information is provided by RNS
The company news service from the London Stock Exchange
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