Chemring Group PLC has announced that its Norwegian subsidiary, Chemring Nobel, has been awarded a total of €66.7m (£57m) by the European Commission as part of the Act in Support of Ammunition Production ("ASAP") program. These awards are in response to the European Council's call to urgently deliver ammunition and missiles to Ukraine and to help Member States refill their stocks. The funding aims to strengthen the responsiveness and ability of the European Union's defense industry to ensure the timely supply of ammunition and missiles in Europe.
Additionally, Chemring has received a grant of 428 million NOK (£32m) from the Government of Norway to boost capacity and production at Chemring Nobel. This co-financing will significantly strengthen Norwegian production capacity for critical defense products. The company plans to sign grant agreements over the coming months.
These grants support Chemring's decision to invest in doubling the capacity of the facility over the medium-term, reinforcing Chemring Nobel's position as a key strategic supplier to NATO. Rupert Pittman, Group Director of Corporate Affairs at Chemring, stated, "Both grants support Chemring's decision to invest in doubling the capacity of this facility over the medium-term, and reinforces Chemring Nobel's position as a key strategic supplier to NATO."
Chemring is a FTSE250 global business specializing in the manufacture of high technology products and the provision of services to the aerospace, defense, and security markets. With approximately 2,600 employees worldwide and production facilities in four countries, the company meets the needs of customers in more than fifty countries. Chemring is organized under two strategic product segments: Sensors & Information and Countermeasures & Energetics, and has a diverse portfolio of products that deliver high reliability solutions to protect people, platforms, missions, and information against constantly changing threats.