30th Mar 2016 12:46
LONDON (Alliance News) - Chemring Group PLC has secured a USD750.0 million contract from the US government to provide non-standard ammunition and non-standard mortar weapon systems to the US Army.
Chemring, which makes countermeasures such as flares and decoys that military aircraft use against missile attack, as well as sensors and electronics used in military vehicles, won the contract as part of a joint venture with Alliant Techsystems Operations LLC, a unit of Orbital ATK.
The deal is for a potential five years and was won against four competing offers.
Chemring shares were up 1.0% to 132.25 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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