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Chemring U.S. Unit Wins $49.9 Mln IDIQ Contract From US Navy, Air Force

Aerospace company Chemring Group Plc. (CHG.L) announced Wednesday that its U.S. unit Chemring Countermeasures USA or CCM USA has won a competitive 5 year IDIQ contract valued at $49.9 million for the supply of MJU-32/38 countermeasures.

The initial delivery order is for $11.3 million from the US Department of the Navy.

The company has also received a $33.6 million delivery order from the US Air Force for the manufacture and delivery of MJU-53/B countermeasures. This award is the second delivery order under the $90 million three year IDIQ contract that was announced in September 2019.

Work under these contracts will be performed at CCM USA's facility in Toone, Tennessee, with deliveries being made in fiscal 2021 and fiscal 2022.

According to the company, these countermeasure products are a key element of an aircraft's defensive aide suite which protect pilots and aircraft against the threat from infrared guided missiles.

Michael Ord, Group Chief Executive of Chemring, said, "These two contracts build on our existing strong order cover for FY21 and demonstrate our customer's confidence in Chemring's ability to develop and supply highly effective countermeasures."

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