Chemring subsidiary inks multi-year agreement with US prime contractor
Aerospace and defence firm announced on Tuesday that its Roke subsidiary has signed a multi-year agreement with a major US prime contractor for the supply of its high-speed Miniature Radar Altimeter.
The FTSE 250-listed group stated that with a value of at least £26.0m over four years, with deliveries commencing in October 2025, production will take place at Roke's Romsey, UK, site.
Chief executive Michael Ord said: "This agreement with a major US prime contractor is another success in Roke's strategy to grow revenues from their portfolio of world-leading defence products and systems. It also demonstrates the critical role we play in multiple space and missiles programmes is not confined to our Energetics businesses.
"Roke continues to see growing interest in its range of defence capabilities and has a significant medium-term pipeline of opportunities valued at more than £300.0m."
As of 0910 GMT, Chemring shares were up 3.13% at 330.0p.
Reporting by Iain Gilbert at Sharecast.com
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