StockMarketWire.com - Defence company Chemring said its US-based subsidiary, Chemring Countermeasures USA, had won a five-year contract and three-year contract from the US Navy and Air Force, respectively.

The company won a five-year contract valued at $49.9 million for the supply of MJU-32/38 countermeasures from the US Navy.

'An initial delivery order of $11.3 million will see deliveries being made under this contract in FY21 and FY22,' the company said. 'The customer is the US Department of the Navy and all work under this contract will be performed at the CCM USA facility at Toone, Tennessee.'

CCM USA had also been awarded a $33.6 million delivery order from the US Air Force to manufacture and deliver MJU-53/B countermeasures. This award was the second delivery order under the $90 million three-year IDIQ contract that was announced in September 2019.

Work under this contract would also be performed at CCM USA's facility in Toone, Tennessee, with deliveries being made in fiscal 2021 and fiscal 2022, the company added.

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