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Chemring wins $28m US contract
Chemring's subsidiary, Chemring Countermeasures USA, has been awarded a $28m contract by the US Army Garrison at Rock Island Arsenal.
The award, which is part of a multi-year option contract in support of the US Army and Air Force, is for the manufacture and delivery of M206, MJU-7A/B and MJU-10/B infra-red decoy flares. Deliveries against this contract will be made in FY17 and FY18, with all work being performed at the Kilgore Flares facility, in Toone, Tennessee.
Chief executive Michael Flowers said: "We are pleased to have received this significant award in support of the US Army and Air Force.
"We are very proud to deliver the highest quality infra-red decoys to the US Department of Defense and all our international customers, and this award demonstrates the continued confidence and trust in our countermeasures."
At 0930 BST, the shares were up 0.9% to 181.10p.