2nd Apr 2025 08:44
(Alliance News) - Chemring Group PLC on Wednesday said it has won a "strategically important" multi-year missile defence contract with the UK Ministry of Defence.
Chemring is a Hampshire, England-based provider of technology products and services to the aerospace, defence and security markets.
It said the deal secured by its Roke unit is valued at GBP251 million over six years and begins "immediately".
The framework contract is for the Science & Technology Oriented Research & development in Missile defence programme, know as Storm. This aimed at providing security to the UK and its allies by means of ballistic and hypersonic missiles.
Roke will be the prime contractor, delivering elements of the contract itself and managing industry partners.
"We are delighted that Roke has been trusted to deliver Storm for the UK MDC. In today's complex and changing security environment effective missile defence is crucial to protecting the UK's interests. This contract recognises Roke's heritage in helping customers solve complex problems, and places Roke at the heart of the UK's missile defence research and development activities," Chemring Chief Executive Michael Ord said.
Chemring shares were up 2.8% to 389.50 pence early Wednesday in London. The defence stock is up 19% so far in 2025.
By Tom Waite, Alliance News editor
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