Business
Trading Update and Contract Awards
Trading Update and Contract Awards.
About this update from Chemring Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9802Q\n Chemring Group PLC\n 02 November 2021\n \n \n \n \n FOR IMMEDIATE RELEASE 2 NOVEMBER 2021\n \n \n \n \n \n CHEMRING GROUP PLC (\"Chemring\", the \"Group\" or the \"Company\")\n \n \n \n \n \n CONTRACT AWARDS AND FINANCIAL YEAR-END UPDATE\n \n \n \n \n \n Contract awards \n \n \n Chemring is pleased to announce that in the final month of its financial year, its US based subsidiary, Chemring Sensors & Electronic Systems (\"CSES\") has been awarded a Full Rate Production contract for the Enhanced Maritime Biological Detection (\"EMBD\") Program of Record. The EMBD system is an advanced sensor system to rapidly detect, collect and identify airborne biological warfare agents.\n \n \n This sole source framework contract is valued at up to US$99m with an estimated completion date of December 2027. An initial delivery order of US$16m will see deliveries being made in the final quarter of FY22 and FY23. The customer is the US Department of Defense and all work under this contract will be performed at CSES's facility at Charlotte, North Carolina.\n \n \n \n \n \n Chemring Australia has also received a contract modification valued at US$20m. This is in addition to the US$22m contract that was announced on 28 September 2021 and is for the supply of MJU-68/B infrared countermeasures in support of the F-35 programme. The customers are both the US Navy and Air Force, and the Governments of Norway, Japan, Italy and the Netherlands. Work under this contract will see deliveries being made in FY22. These countermeasures play a critical role in protecting service men and women from the threats posed by heat-seeking and radar-controlled missiles.\n \n \n \n \n \n Financial year-end update\n \n \n \n \n \n Trading in the period to 31 October 2021 has progressed as planned despite the challenging environment in which we continue to operate. As a result, the outturn for the year ending 31 October 2021 is expected to be ...