Chemring Group PLC Contract Award (5587D)

TIDMCHG

RNS Number : 5587D

Chemring Group PLC

01 February 2018

FOR IMMEDIATE RELEASE 1 FEBRUARY 2018

CHEMRING GROUP PLC

CONTRACT AWARD

Chemring Group PLC ("Chemring" or "the Group") is pleased to announce that its UK-based subsidiary, Chemring Countermeasures ("CCM"), has been awarded contracts for export customers with a total value of GBP23 million. Deliveries under these contracts will be made until the end of 2022, with all work being performed at CCM's facility at High Post, Salisbury.

Michael Flowers, Group Chief Executive of Chemring, commented:

"We are delighted to receive these significant multi-year awards in support of our international customer base. They further consolidate our position in the global countermeasures market and are testament to the trusted position the Group holds.

"We look forward to continuing to deliver the highest performing and highest quality infra-red decoys in support of our customers' critical missions."

-ENDS-

For further information:

Rupert Pittman Group Director of Corporate Affairs, 01794 833901

Chemring Group PLC

Andrew Jaques MHP Communications 020 3128 8100

James White

Notes to editors

-- Chemring is a 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 2,500 people worldwide, and with production facilities in four countries, Chemring meets the needs of customers in more than fifty countries

-- Chemring is organised under three strategic product segments: Countermeasures, Sensors, and 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.co.uk

Cautionary statements

This announcement contains unaudited information based on management accounts and 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.

No statement in this announcement is intended as a profit forecast for FY18 and no statement in this announcement should be interpreted to mean that underlying operating profit for the current or future financial years would necessarily be above a minimum level, or match or exceed the historical published underlying operating profit or set a minimum level of underlying operating profit.

This information is provided by RNS

The company news service from the London Stock Exchange

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February 01, 2018 02:00 ET (07:00 GMT)