Chemring Gets $83 Million Explosives Order From Northrop Grumman
By Anthony O. Goriainoff
Chemring Group received an order valued at $83 million for explosives after signing a 15-year partnership agreement with U.S. aerospace and defense technology company, Northrop Grumman.
The U.K. defense company said its Norwegian subsidiary, Chemring Nobel, will supply explosive HMX energetic material which will be used in Northrop Grumman's missile program.
The HMX deliveries will start in fiscal 2026 and will be made over the following three years, it said.
"These awards, which illustrate the long-term and valued relationship that we enjoy with Northrop Grumman, support our decision to invest in increasing the capacity of our three energetics businesses over the medium-term, and reinforces Chemring's position as a key supplier to NATO," Chief Executive Michael Ord said.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
June 10, 2024 02:45 ET (06:45 GMT)
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