Chemring Group has announced it is selling its European munitions business to Nexter Systems SA for a figure of £138m.
Following the sale, Chemring will become a focused defence technology business in sensors and electronics, countermeasures and energetic systems, it said. Chemring will invest in those lines of business that have technologies, products and market positioning that offer sustainable high margins and revenue growth, it added. Mark Papworth, chief executive officer of Chemring, said: “The…
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