Chemring Group PLC Award of GBP 4.9M Contract for Spectral Flares(August 1, 2006 ) - Chemring Group PLC ("Chemring") announces that its UK countermeasures business, Chemring Countermeasures, has secured an initial order of pound4.9 million for spectral flares from the UK Ministry of Defence ("UK MoD"). These flares will play an important role in the protection of UK aircraft on deployed operations.
Designed and developed in-house, the spectral flares, which are a new product for Chemring, will be delivered by the summer of 2007. Chemring Countermeasures will invest approximately pound0.7 million in new facilities to generate additional capacity in order to fulfil the UK MoD requirement.
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David Price, Chief Executive of Chemring, commented: "I am delighted that the UK MoD has placed this initial order with Chemring, and we are optimistic that there will be the potential for follow on business. In developing spectral flares we have demonstrated both our technological capabilities and our ability to respond to the urgent operational needs of our customer."
Source : Chemring Group