LONDON (ShareCast) - (Sharecast News) - Chemring's US subsidiary has been awarded a $93m contract to refurbish and refresh the US Department of Defence's fleet of Husky vehicles, which are used to detect mines.
The defence firm said the enhanced fleet will include the addition of an array of new technologies that it has designed and developed to be effective against the most challenging targets.

Work under the contract will be carried out at Chemring Sensors and Electronic Systems' facility in Dulles, Virginia.

Chief executive Michael Ord said: "This award represents a significant development for Chemring and is the culmination of a number of years of research and development activity. It demonstrates the progress that the group is making on its roadmap and the move to focus on our higher margin, niche market positions where the group is best placed to generate future value."

Chemring shares tumbled earlier this week after it said underlying operating profit for the 12 months to 31 October was likely to be £10m to £20m lower than the previous forecast of £55m following a fatal explosion at its Salisbury facility.

At 1030 BST, the shares were up 1.2% to 206.50p.

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