Chemring in $145m ordnance win

28th Jan 2011 07:14

Chemring's Belgian subsidiary, Mecar, has picked up a $145m multi-year contract for the supply of medium and large calibre ammunition to an unnamed Middle East customer. Mecar, which was acquired by Chemring in September 2010, makes ammunition, particularly for modern, light armoured vehicles, including shells, grenades, mortars and other ordnance. Deliveries under the contract will commence in 2012. Dr David Price, Chief Executive of Chemring, commented: "I am delighted by the continued success of Mecar. This contract will provide a firm foundation for the business over the next few years."