Chemring Group PLC CONTRACT AWARD
13 February 2017 - 6:00PM
RNS Non-Regulatory
TIDMCHG
Chemring Group PLC
13 February 2017
13 February 2017
Chemring Group PLC
("Chemring" or "the Group")
HMDS Contract Win
Chemring Group PLC is pleased to announce that its US
subsidiary, Chemring Sensors and Electronic Systems, has received a
contract from the US Army for ten ground penetrating radar trial
systems, which will incorporate the Group's enhanced detection
technology capabilities. The evaluation of this new capability, if
successful, could lead to upgrades of the the US Army HMDS
inventory.
Michael Flowers, Group Chief Executive of Chemring, commented:
"I am delighted that we have received this contract that will
support an Operational Assessment by the US Army. These systems,
which incorporate enhanced detection technology developed by Roke
and Chemring Technology Solutions in the UK, offer a valuable
upgrade to the existing HMDS fleet. The HMDS, a Program of Record
for the US Army, is a key part of our long term growth strategy and
the continued progression of this capability is encouraging."
Enquiries:
Chemring Group PLC
+44 (0)1794
Michael Flowers Group Chief Executive 833 901
Group Director of Corporate +44 (0)1794
Rupert Pittman Affairs 833 901
MHP Communications
+44 (0)20
Andrew Jaques 3128 8100
John Olsen
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 2,750 people worldwide, and with
production facilities in four countries, Chemring meets the needs
of customers in more than fifty countries
-- Chemring is now 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, 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
NRAOKKDPCBKKKBD
(END) Dow Jones Newswires
February 13, 2017 02:00 ET (07:00 GMT)
Chemring (LSE:CHG)
Historical Stock Chart
From Apr 2024 to May 2024
Chemring (LSE:CHG)
Historical Stock Chart
From May 2023 to May 2024