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
