Double contract win for Meggitt
Aerospace and defence engineering firm Meggitt has been awarded two separate contracts, one of which is worth £13m.
Aerospace and defence engineering firm Meggitt has been awarded two separate contracts, one of which is worth £13m.
Under the multi-million pound deal, the company will supply the UK Ministry of Defence (MoD) with a small arms simulator upgrade, known as a Dismounted Close Combat Trainer (DCCT).
The second contract was won by Heatric, a Meggitt group business unit, which has been awarded a contract by Technip to supply 18 printed circuit heat exchangers (PCHEs) for the Shell Prelude Floating LNG Project, the world's first floating liquefied natural gas facility.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
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
The order is the largest received by Heatric.
Commenting on the MoD contract, Ronald Vadas, president of Meggitt Training Systems said: "The UK MoD is one of our most important customers for virtual and live fire training systems.
"Meggitt's DCCT has been the UK MoD's primary small arms training system since 2003. Meggitt delivered the first DCCT to the British Army in 1992."
NR
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
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published