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US quick to return for Chemring's flares

Company News

US quick to return for Chemring's flares

Fri, 26 March 2010
Article viewed 670 times
US quick to return for Chemring's flares
Chemring Group Quote more

Price: 173.50

Chg: 1.00

Chg %: 0.58%

Date: 16:59

The American military has asked Britain’s Chemring to supply an extra $30.9m worth of decoy flares to protect its F-22 Raptor aircraft from the threat of infra-red guided missiles.

US unit Kilgore Flares will supply more of its MJU-39 and MJU-40 flares as part of an IDIQ (indefinite delivery/indefinite quantity) contract with Department of Defense signed in November.

That deal, which had been due to extend over four years, has now reached its maximum potential value of $54.9m. Kilgore's order book will cover deliveries through to May 2012.

"The fact that the US Air Force has maximised its contract value with Kilgore within only five months of the initial award is a testament to Kilgore's outstanding reputation and the quality of deliveries it has been making to the US Department of Defense,” said Chemring boss David Price.

Last week, Chemring radioed in a 5% increase in trade during the four months to the end of February at constant currency despite taking a hit from snow storms in both the UK and US.

It said deliveries were affected in January and February as bad weather disrupted production in most of its US and UK subsidiaries, although the impact will be recovered in the next two to three months.

It boasts a record order book, up 17% from last year at £653m, and is confident that the outlook for 2010 remains in line with its expectations.