Chemring Group PLC CONTRACT AWARDS
May 24 2018 - 2:02AM
RNS Non-Regulatory
TIDMCHG
Chemring Group PLC
24 May 2018
FOR IMMEDIATE RELEASE 24 MAY 2018
CHEMRING GROUP PLC ("Chemring", the "Group" or the
"Company")
CONTRACT AWARDS
Chemring Group is pleased to announce that its US based
subsidiary, Chemring Countermeasures USA ("CCM USA"), has been
awarded contracts totalling $27.5 million for the production of
M211 and MJU-64/B flares for the US Army, US Navy and Foreign
Military Sales customers. These flares are a key component of
aircraft survivability systems that protect fighters, helicopters
and transport aircraft against infrared guided missile threats.
Deliveries under these contracts will be made between 2018 and
2019, with all work being performed at CCM USA's facility at
Chester Township, Pennsylvania.
Michael Flowers, Group Chief Executive of Chemring,
commented:
"These contracts demonstrate the confidence of the US Army and
US Navy in Chemring's ability to develop and supply quality
aircraft countermeasures, and it recognises our dedication to
protecting our warfighters.
"We have invested significantly in our global Countermeasures
capabilities and facilities and continue to do so, with major
improvement programmes ongoing at all sites. I am delighted to see
that these investments have positioned the Group to be best able to
serve our customers as the preferred supplier of the highest
quality infrared flares."
-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
NRASEFFMDFASEDI
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