Chemring wins $150m US military contract

22nd Jun 2011 13:45

Chemring, the pyrotechnics and munitions manufacturer for the defence and security industries, has won a $150m contract with the US military to manufacture a "self-contained, one-shot- expendable linear demolition charge".The company announced on Wednesday that its US subsidiary, Chemring Ordnance, will make the MK7 MOD 2 Anti-Personnel Obstacle Breaching System (APOBS) for the US Army and Marine Corps."The APOBS contract award expands Chemring's offerings in the demolition stores market and underpins the continued growth of Chemring Ordnance. We are delighted about the US Army's continued confidence in Chemring to provide protection for their soldiers," said Chemring's chief executive David Price."The APOBS [...] can be transported and deployed by a two person team, and is capable of safely clearing a footpath through anti-personnel mines and multi-strand wire obstacles," the firm said.Shares were trading 1.9% down at 636p as of 13:57 on Wednesday afternoon.---BC