Announced
Completed
Financials
Tags
pyrotechnic products
Defense
Private
Single Bidder
Acquisition
United States
Majority
military equipment
Friendly
Completed
Synopsis
Nammo Defense Systems, an international aerospace and defence company, completed the acquisition of Chemring Ordnance, which manufactures a range of ordnance and pyrotechnic products primarily for military customers, from Chemring, a global business providing a range of advanced technology products, for $17m. "I am pleased to announce the sale of Chemring Ordnance to Nammo. This transaction is another step in the delivery of our strategy and provides a greater focus on our growing and differentiated positions in Sensors & Information and Countermeasures & Energetics. Today's announcement concludes the process of exiting the Group's commoditised energetics businesses and further improves the quality of the Group and its future earnings," Michael Ord, Chemring Chief Executive.
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