Chemring shares pulled up by Husky order
Pyrotechnics and military counter-measures specialist Chemring started Tuesday with a bang after announcing two new orders, one big and one small.
Pyrotechnics and military counter-measures specialist Chemring started Tuesday with a bang after announcing two new orders, one big and one small.
Its Chemring Countermeasures subsidiary has been awarded a five year agreement with the UK Ministry of Defence, worth an initial £21m, to supply infra-red and radar frequency decoy flares.
In the US, its Non-Intrusive Inspection Technology (NITEK) division has been awarded a contract for the ground penetrating radar, Husky mounted detection system. The contract ceiling is $579m with an initial order of $161m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Chemring's Chief Executive, Dr David Price, said he was "delighted" with the order and added the detection system "continues to contribute to the safety of US and coalition forces".
Chemring's shares had jumped 16% on the news by 08:37, although the company has had a fraught 12 months, with its stock still down 43.5% since last May.
BS
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%
Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the US
Medium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.