Cohort subsidiary wins three contracts with Rheinmetall Air Defence

30th Jul 2024 10:27

(Sharecast News) - Technology group Cohort said on Tuesday that its Chess Dynamics subsidiary has been awarded three contracts from Rheinmetall Air Defence worth more than £25.0m.

Cohort stated that under the contracts, Chess will provide electro-optical tracking surveillance systems and multi-sensor units.

The AIM-listed group noted that work will commence immediately, and deliveries will continue out to 2028.

Chief executive Andy Thomis said: "This order once again demonstrates Chess' position as a trusted supplier of robust surveillance and tracking systems.

"This order further underpins our order book and enhances the visibility of future revenues."

As of 1025 BST, Cohort shares were up 1.00% at 856.49p.

Reporting by Iain Gilbert at Sharecast.com