REG - Chemring Group PLC - Roke Contract Award

ChemringAnnouncement

14/01/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250114:nRSN1433Ta&default-theme=true

RNS Number : 1433T  Chemring Group PLC  14 January 2025

FOR IMMEDIATE RELEASE
 
                14 JANUARY 2025

 

CHEMRING GROUP PLC ("Chemring", the "Group" or the "Company")

 

ROKE STRATEGIC SUPPLY AGREEMENT WITH MAJOR US PRIME CONTRACTOR

 

Chemring is pleased to announce that Roke has signed a multi-year agreement
with a major US Prime Contractor for the supply of its high-speed Miniature
Radar Altimeter ("MRA").

 

With its compact design and integrated antenna, Roke's MRA is the smallest and
lowest mass radar altimeter of its type currently available for use in missile
systems and uncrewed air vehicles. Roke's proprietary software algorithms and
digital signal processing hardware enable highly accurate altitude measurement
over land and sea when operating in high speed, low altitude, austere
environments.

 

With a value of at least £26m (US$32m) over four years with deliveries
commencing in October 2025, production will take place at Roke's Romsey, UK,
site.

 

Michael Ord, Chief Executive of Chemring, commented:

 

"This agreement with a major US Prime Contractor is another success in Roke's
strategy to grow revenues from their portfolio of world-leading defence
products and systems. It also demonstrates the critical role we play in
multiple space and missiles programmes is not confined to our Energetics
businesses. Roke continues to see growing interest in its range of defence
capabilities and has a significant medium-term pipeline of opportunities
valued at more than £300m."

 

ENDS

 

For further information:

Rupert Pittman           Group Director of Corporate Affairs,
                                    01794
463401

                                      Chemring Group
PLC

 

James McFarlane        MHP
Group
                        07584 142665

Ollie Hoare
 
         07817 458804

 

Cautionary statement

 

This announcement may contain forward-looking statements that are based on
current expectations or beliefs, as well as assumptions about future events.
These forward-looking statements can be identified by the fact that they do
not relate only to historical or current facts. Forward-looking statements
often use words such as anticipate, target, expect, estimate, intend, plan,
goal, believe, will, may, should, would, could, is confident, or other words
of similar meaning. Undue reliance should not be placed on any such statements
because they speak only as at the date of this document and, by their very
nature, they are subject to known and unknown risks and uncertainties and can
be affected by other factors that could cause actual results, and Chemring's
plans and objectives, to differ materially from those expressed or implied in
the forward-looking statements. There are a number of factors which could
cause actual results to differ materially from those expressed or implied in
forward-looking statements. Among the factors that could cause actual results
to differ materially from those described in the forward-looking statements
are: increased competition, the loss of or damage to one or more key customer
relationships, changes to customer ordering patterns, delays in obtaining
customer approvals for engineering or price level changes, the failure of one
or more key suppliers, the outcome of business or industry restructuring, the
outcome of any litigation, changes in economic conditions, currency
fluctuations, changes in interest and tax rates, changes in raw material or
energy market prices, changes in laws, regulations or regulatory policies,
developments in legal or public policy doctrines, technological developments,
the failure to retain key management, or the key timing and success of future
acquisition opportunities or major investment projects. Chemring undertakes no
obligation to revise or update any forward-looking statement contained within
this announcement, regardless of whether those statements are affected as a
result of new information, future events or otherwise, save as required by law
and regulations.

 

Notes to editors

 

·    Chemring is a FTSE250 global business that specialises in the
manufacture of high technology products and the provision of services to the
aerospace, defence and security markets

·    Employing approximately 2,700 people worldwide, and with production
facilities in four countries, Chemring meets the needs of customers in more
than fifty countries

·    Chemring is organised under two strategic product segments: Sensors
& Information and Countermeasures & Energetics

·    Chemring has a diverse portfolio of products that deliver high
reliability solutions to protect people, platforms, missions and information
against constantly changing threats

·    Operating in niche markets and with strong investment in research and
development ("R&D"), Chemring has the agility to rapidly react to urgent
customer needs

 

www.chemring.com (http://www.chemring.com.)

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CNTGZGMMNFMGKZM