Chemring signs deal with Northrop Grumman for missile material

10th Jun 2024 07:03

(Sharecast News) - Chemring said it had signed a 15-year deal partnering deal with US defence firm Northrop Grumman for the supply of HMX energetic material used in its missile programmes along with an order for the product worth $83m as demand for military weapons increased globally.

The deal, made through the company's Norwegian subsidiary Chemring Nobel, "supports Northrop Grumman's efforts to expand its munitions manufacturing production in response to growing customer demand", Chemring said on Monday.

Deliveries under the order will start in the 2026 financial year and be made over the following three years, with all work being carried out at Chemring Nobel's facility at Sӕtre, Norway.

Reporting by Frank Prenesti for Sharecast.com