Chemring Group Plc’s US Subsidiary Bags 4 Contracts From US Navy And US Air Force

  • Sep 11, 2019 BST
  • Team Kalkine

The US based subsidiary of the Chemring Group Plc (LSE: CHG), Chemring Countermeasures USA has bagged four contracts to source countermeasures in support of the US Navy and US Air Force. The new orders validate the sustained confidence of the US Navy and Air Force in the company’s skill to develop and supply quality aircraft countermeasures. The first order is valued at $4.2 million, while the second contract is a delivery order worth $8.1 million. The third contract is a three-year IDIQ with a maximum value of $90 million, and the fourth one is a five-year IDIQ with a maximum value of $25 million.

On 11th September 2019, at the time of writing, GMT 11:07 AM, CHG shares were trading at GBX 184.20, up by 2.60 points or 1.43% against the previous day closing price.

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