Avon Protection Bags U.S. Army Contract For Up To $87.6 Mln

Avon Protection plc (AVON.L) a maker of life-critical respiratory and ballistic personal protection systems, on Wednesday said it received a contract worth up to $87.6 million from the U.S. Army.

The contract spread over two years is to develop and supply the U.S. Army with the next generation Integrated Head Protection System as part of a dual sourced programme.

The contract replaces the next generation IHPS contract announced on 24 September 2020 which was withdrawn following a competitor protest.

Following the latest award, the U.S. Army has placed an order worth $1.3 million for first article test samples for delivery in the first half of 2022 financial year.

AVON is currently trading at 1776 pounds, down 24 pounds or 1.33 percent from previous close.

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