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Chemring Group PLC
Video analysis: CMGMF
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News: CMGMF
Defence sector rallies as Starmer confirms more spending on drones and nuclear deterrent
BAE Systems PLC (LSE:BA.), Chemring Group (LSE:CHG) and other UK defence stocks rallied after the government confirmed a £15 billion increase in military spending, with drones, ammunition stockpiles and the nuclear deterrent among the priorities.
Chemring wins $345m of contracts with US Dept of War for airborne countermeasures
Chemring Group (LSE:CHG) has secured up to $345 million of new US defence awards that will allow it to restart manufacturing at its previously discontinued Alloy Surfaces business in Philadelphia. The defence technology group said the US Department of War had awarded a modified five-year 'indefinite delivery, indefinite quantity' contract worth up to $300 million to produce pyrophoric airborne decoys.
