21st Jul 2016 07:49
LONDON (Alliance News) - Countermeasures manufacturer Chemring Group PLC on Thursday said it has secured a further research and development contract on the Next Generation Chemical Detection Program of Record in the US.
No financial details on the contract were disclosed, but Chemring said it will now progress work on the prototype phase of all three variants of the programme.
"I am delighted that we have progressed to the prototype phase on this third stream under the NGCD Program of Record. Participation on all three variants is testament to our expertise within the chemical detection field and our continued focus on the needs of our customers. These Programs of Record form a key part of our long term growth strategy and our continued progression is very encouraging," said Chemring Chief Executive Michael Flowers.
Shares in Chemring were up 2.4% to 129.50 pence Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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