Chemring Group PLC Contract Win
29 September 2016 - 7:53PM
RNS Non-Regulatory
TIDMCHG
Chemring Group PLC
29 September 2016
FOR IMMEDIATE RELEASE 29 SEPTEMBER 2016
ELECTRONIC WARFARE CONTRACT WIN
Chemring Group PLC ("Chemring" or "the Group"), is pleased to
announce that its subsidiary Chemring Australia has been awarded an
A$18 million contract by the Australian Department of Defence to
supply Chemring's Resolve 3 electronic warfare manpack system.
Resolve 3 is the latest iteration of the highly successful,
combat-proven, Resolve electronic surveillance system, designed and
produced by UK-based Chemring Technology Solutions. Up to 50
man-portable systems will be delivered during the first 18 months
of the contract, with the systems being assembled at Chemring
Australia's facility at Mulgrave, Victoria.
Michael Flowers, Group Chief Executive of Chemring, commented:
"Resolve 3 represents the latest in man-portable electronic
surveillance capability and I am delighted that Chemring Australia
has won this contract. This is the largest award that the Group has
received for the Resolve system, growing Resolve's user-base to
nine countries and builds on Chemring's position as a market leader
in electronic warfare."
-ENDS-
For further information:
Michael Flowers Group Chief Executive, Chemring Group PLC 01794 833901
Rupert Pittman Group Director of Corporate Affairs, 01794
833901
Chemring Group PLC
James White MHP Communications 0203 128 8100
Cautionary statement
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.
About Chemring Group
-- 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 2,700 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 & Electronics, and Energetic
Systems
-- 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
END
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September 29, 2016 05:53 ET (09:53 GMT)
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