Chemring Group Plc (LON:CHG) has announced today that its UK subsidiary, Chemring Energetics UK, has received an order valued at £43m for the delivery of critical components used in the Next Generation Light Anti-Tank Weapon system (“NLAW”). This award follows the £229m contract that was placed on SAAB by the UK Ministry of Defence in December 2022.
With some of the components required to fulfil this order having long lead times, the Group expects to see deliveries under this contract commencing in 2024 and continuing into 2025 and 2026.
Michael Ord, Group Chief Executive of Chemring Group, commented:
“This significant award maintains and strengthens Chemring’s position in the specialist materials and propellants market, which is seeing increased levels of activity as customers re-evaluate their requirements for conventional defence capabilities resulting from the evolving threat environment.
“Building on our already strong order book this contract increases visibility in our Countermeasures & Energetics segment for FY24 and beyond.”
Chemring is a FTSE-250 global business that specialises in the manufacture of high technology products and the provision of services to the aerospace, defence and security markets