Business
NP Aerospace announces JV
NP Aerospace announces JV.
About this update from Morgan Advanced Materials Plc
[{"type":"text","content":"\n RNS Number : 1574Q Morgan Crucible Co PLC 06 April 2009 \n \n\nNP Aerospace and Force Protection in UK joint venture\n\nNew company awarded Wolfhound contract by UK MoD, 50 new jobs created\n\nNP Aerospace Limited, a subsidiary of The Morgan Crucible Company plc, and Force Protection, Inc. today announced the establishment of a 50:50 joint venture company in the United Kingdom, Integrated Survivability Technologies Limited (IST). IST has been awarded the contract for the Wolfhound Tactical Support Vehicle by the UK Ministry of Defence. The £84M contract involves the supply of 97 heavy tactical support vehicles to be supplied over the next 12 months based on the combat proven Cougar design. The development will create 50 new jobs within NP Aerospace and the supplier base. \n\nNP Aerospace and Force Protection have already worked together significantly to supply mine resistant ambush protected vehicles to the UK MoD, which to date has ordered a total of 447 Mastiff 6x6 and Ridgback 4x4. Both are based on the Force Protection Cougar vehicle and Coventry based NP Aerospace carries out the integration and armouring work. These vehicles are in service in Iraq and Afghanistan. UK MoD has also ordered 14 Force Protection Buffalo route clearance vehicles. \n\nThe establishment of IST marks a significant new chapter in the partnership between NP Aerospace and Force Protection. It is IST's aim to become a single point of contact and Design Authority for all existing and future business related to the Cougar and Buffalo based vehicles in the United Kingdom. \n\nMark Robertshaw, Chief Executive Officer of Morgan Crucible said 'This is a further exciting development for the NP Aerospace business, securing a long term strategic relationship with Force Protection and providing our customer with a truly integrated product offering. I am confident that this contract, which will provide NP Aerospace itself with revenue of in excess of £30 million, will be the start of a very successful future for our joint venture.' \n\nMichael Moody, F...