StockMarketWire.com - Defence group Chemring said Thursday that its US based subsidiary had been awarded a $93m Indefinite Delivery Indefinite Quantity contract to refurbish and refresh the US Defence department's fleet of Husky Mounted Detection Systems.

Work under this contract would be carried out at the company's US-based subsidiary Chemring Sensors and Electronic Systems facility in Dulles, Virginia, Chemring said.

'This award represents a significant development for Chemring and is the culmination of a number of years of research and development activity. It demonstrates the progress that the Group is making on its roadmap and the move to focus on our higher margin, niche market positions where the Group is best placed to generate future value,' said Michael Ord, Group Chief Executive of Chemring.




At 9:05am: [LON:CHG] Chemring Group PLC share price was +2.25p at 206.25p



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