Chemring UK Unit Gets £43 Mln Order For Critical Components Used In Light Anti-Tank Weapon System

Chemring Group Plc (CHG.L), a British aerospace products and service provider, announced Wednesday that its UK subsidiary, Chemring Energetics UK, has received 43 million pounds worth order to deliver critical components used in the Next Generation Light Anti-Tank Weapon system or NLAW.

The latest contract follows the 229 million pounds contract that was placed on SAAB by the UK Ministry of Defence in December 2022.

The company expects to see deliveries under this contract commencing in 2024, as some of the components required for the order have long lead times. The deal will continue into 2025 and 2026.

Michael Ord, Group Chief Executive of Chemring, said, "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."

The company said the contract increases visibility in its Countermeasures & Energetics segment for FY24 and beyond.

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