Chemring wins £43m NLAW contract
Chemring said it had won a £43m order for the delivery of critical components used in the Next Generation Light Anti-Tank Weapon system (NLAW).
Aerospace and Defence
The award follows the £229m contract that was placed on SAAB by the UK Ministry of Defence in December 2022.
"This significant award maintains and strengthens Chemring's position in the specialist materials and propellants market, which is seeing increased levels of activity as customers re-evaluate their requirements for conventional defence capabilities resulting from the evolving threat environment,” said chief executive Michael Ord.
"Building on our already strong order book this contract increases visibility in our Countermeasures & Energetics segment for FY24 and beyond."
With some of the components required to fulfil this order having long lead times, the group expects to see deliveries under this contract starting next year and continuing into 2025 and 2026.
Reporting by Frank Prenesti for Sharecast.com