Chemring wins news order from US Army

A subsidiary of Chemring Group has been awarded a further delivery order to provide spares for the Husky Mounted Detection System (HMDS) for the US Army.

A subsidiary of Chemring Group has been awarded a further delivery order to provide spares for the Husky Mounted Detection System (HMDS) for the US Army.

The order, worth $24m, supplements the $9.0m order received by the UK-based Non-Intrusive Inspection Technology (NITTEK) subsidiary in February.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.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

Sign up

Mark Papworth, Chief Executive of Chemring, said: "NIITEK's HMDS products perform an essential role in protecting troops against the threat of improvised explosive devices. We are delighted that these additional delivery orders enable us to continue our proven support to the US Army, and that NIITEK will continue to deliver critical spares to ensure their fleet is mission ready."

All of the ordered items are due to be delivered on a firm fixed price basis by April of next year.

The share price rose 2.54% to 266.80p by 08:41 on Wednesday.

NR

MoneyWeek

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.