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.
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
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
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.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
MoneyWeek news quiz: Which G7 nation has the most generous state pension?The chancellor “set the context” for the Budget on 26 November this week, and November's Premium Bonds winners were confirmed. The state pension also made headlines. How closely have you been following the news?
-
Have a will? It may not be enough to secure your wishes – here’s what you need tooIncorporating a letter of wishes into your estate planning can provide a unique opportunity to personally guide your loved ones on your final wishes for them and you. We explain how a letter of wishes works.
