Chemring Group PLC·Industrials

Chemring Group (LSE:CHG) shares fell 5% to 495p after the defence technology group flagged a slower-than-expected start to its financial year, driven by manufacturing problems at a US facility, and warned that rising capital expenditure would push debt higher. The group's Kilgore Flares plant in Tennessee, which operates a fully automated countermeasures production line, experienced operational difficulties that are now largely resolved.

Chemring Group (LSE:CHG), the defence and security technology group, has told shareholders its full-year outlook remains unchanged, despite a slower-than-expected start to the financial year caused by operational disruption at one of its US manufacturing sites. The group said countermeasures production had been disrupted at Kilgore Flares, its fully automated facility in Tennessee, though the problems were now largely resolved.
Chemring Group PLC supplies countermeasures, sensors, and energetic solutions to aerospace, defense, and security industries in the United States, the United Kingdom, Norway, Australia, and internationally. The company operates through two segments, Sensors & Information and Countermeasures & Energetics. The Sensors & Information segment develops and manufactures explosive hazard detection equipment; chemical and biological threat detection equipment; and electronic countermeasures, as well as network protection technologies. The Countermeasures & Energetics segment offers expendable countermeasures for air, sea, and land platforms; cartridge/propellant actuated devices; pyrotechnic devices for satellite launch and deployment; missile components; separation sub-systems; actuators; and energetic materials, as well as aircrew egress and safety systems. Chemring Group PLC was incorporated in 1905 and is headquartered in Romsey, the United Kingdom.
Industrials
Aerospace & Defense
2,672
2011-12-12
0.84