British defense company BAE Systems Plc (BA.L) said Friday that the US Army has awarded the company a contract valued at as much as $780 million ove the next five years to continue producing explosives at the Holston Army Ammunition Plant in Tennessee.
Under the contract, the company received an initial $18.4 million order to produce additional quantities of IMX-101 - an insensitive munition that is approved by the Army as a safe and effective replacement for TNT in artillery rounds.
BAE Systems developed IMX-101 and fielded it in partnership with the Army at the Holston plant, which the company operates and manages for the government.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.