Latest news with #DiehlDefence
Daily Mail
20 hours ago
- Business
- Daily Mail
Chemring boasts record order book as global military spending swells
Chemring boasted record order intake and order book size in the first half as global defence spending continues to rise amid tensions in Europe and the Middle East. The aerospace and defence contractor on Tuesday revealed its order intake totalled £488million in the six months ending April, a 42 per cent annual increase. This contributed to the Hampshire-based company's order book growing by a quarter to £1.3billion, the highest in its history. Multi-year purchases helped Chemring's order intake soar by over two-thirds to £418million in its countermeasures and energetics segment. Its Scotland-based business secured a £23million deal to supply components used in the Next Generation Light Anti‐Tank Weapon system and an £11million deal from the Ministry of Defence for various air countermeasures. Chemring's Norwegian subsidiary, Chemring Nobel, also struck a £278million deal with Diehl Defence to provide MCX, a type of explosive material used in munitions. But overall revenues rose by just 5 per cent to £234.3million due to a weaker performance from its sensors and information segment. The FTSE 250 firm said the division's rate of new order placement had slowed amid delays by the UK Government in the publication of its strategic defence review. However, the group saw its total underlying operating profits expand by 8 per cent to £27.1million and kept its guidance for 2025 unchanged. Michael Ord, chief executive of Chemring, said: 'Both sectors benefitted from the receipt of several significant orders in the period, evidencing confidence in our market-leading products and services. 'With growing geopolitical uncertainty resulting in increased defence expenditure, particularly across NATO, the group is well positioned, with a strong and sustainable platform to increase revenue to £1billion by 2030.' Global military expenditure went up by 9.4 per cent to $2.7trillion last year, according to the Stockholm International Peace Research Institute, as wars raged in Ukraine and the Middle East, and concerns remained elevated over China's intentions towards Taiwan. Total spending by NATO member states grew to $1.5trillion, partly driven by European countries ramping up spending following pressure from US President Donald Trump for them to bear a greater share of the defence burden. British defence giants, such as BAE Systems, Babcock, and Chemring, have been major beneficiaries of this added spending, which has led to their share prices jumping considerably. Chemring Group shares were the FTSE 250's top riser on Tuesday morning, rising by 6.3 per cent to 517p, meaning they have leapt by approximately 58 per cent since the year began.
Yahoo
6 days ago
- Business
- Yahoo
German chancellor says supplying Taurus missiles to Ukraine is possible
German Chancellor Friedrich Merz has said that supplying Ukraine with Taurus cruise missiles is possible. Source: European Pravda with reference to German TV channel ZDF Details: Asked about supplying Ukraine with Taurus missiles, Merz responded: "Of course, it is within the realms of possibility." At the same time, he added that this would require several months of training for Ukrainian soldiers. Merz noted that transferring the system in six months or a year would not benefit Ukraine today, so military support for Kyiv is being improved now. Speaking about further sanctions against Russia, the chancellor said: "Everything that can be done on a secure legal basis is possible." Background: On 28 May, Ukrainian President Volodymyr Zelenskyy held meetings in Berlin with Federal Chancellor Friedrich Merz, German President Frank-Walter Steinmeier and Bundestag President Julia Klöckner. During the visit, Germany promised new military aid to Ukraine worth €5 billion. Among other things, a contract was signed with Diehl Defence for the production of IRIS-T systems and missiles for them. Ukrainian Defence Minister Rustem Umierov said that the total value of the contract is €2.2 billion Support Ukrainska Pravda on Patreon!
Yahoo
7 days ago
- Business
- Yahoo
Ukraine's defence minister reveals details of IRIS-T production deal for Ukraine
Ukraine's Defence Minister Rustem Umierov has announced that the new contract for the production of IRIS-T systems and corresponding missiles for Ukraine is worth €2.2 billion. Source: Umierov on Telegram, as reported by European Pravda Details: Umierov is currently in Berlin as part of a Ukrainian delegation led by President Volodymyr Zelenskyy. He reiterated that Germany announced a military aid package worth €5 billion on Wednesday, during the visit of Ukrainian officials. Among the agreements, a contract was signed with Diehl Defence for the production of IRIS-T air defence systems and corresponding missiles. Umierov reported that the total value of the contract amounts to €2.2 billion. The minister did not disclose the timeline for production or delivery of the systems. Umierov also noted that Germany will fund the procurement of Ukrainian long-range weapons worth several hundred million euros. Background: On Wednesday 28 May, German Chancellor Friedrich Merz announced an expansion of military assistance to Ukraine but provided limited details, reflecting a new policy of restricted information about military support to Kyiv. Merz also vowed to do everything to prevent the Nord Stream 2 gas pipeline from operating. Support Ukrainska Pravda on Patreon!
Yahoo
09-03-2025
- Business
- Yahoo
Ukraine signs memorandum with IRIS-T manufacturer, supply will triple
Ukraine has signed a memorandum with Diehl Defence, the German manufacturer of the IRIS-T system, which provides for a threefold increase in the supply of missiles and air defence systems. Source: Ukraine's Defence Minister Rustem Umierov on Facebook Quote: "We have signed a memorandum of understanding with Diehl Defence, the manufacturer of the IRIS-T system, which is a crucial part of Ukraine's air defence shield. Protecting Ukraine's skies and cities is our priority. The signed agreement paves the way for major industrial projects that will enhance the capabilities of our air defence. The memorandum also provides for a threefold increase in the supply of missiles and air defence systems." Background: In early September 2024, German Chancellor Olaf Scholz announced that Germany had ordered a total of 17 IRIS-T air defence systems for Ukraine, including eight medium-range (SLM) and nine short-range (SLS) systems. On 20 December, President Volodymyr Zelenskyy confirmed that Ukraine had received its sixth IRIS-T SLM air defence system from Germany. At the end of December 2024, Germany delivered a large aid package to Ukraine, including IRIS-T and Patriot systems. Support Ukrainska Pravda on Patreon!
Mid East Info
20-02-2025
- Business
- Mid East Info
EDGE Partners with Germany's Diehl Defence to Strengthen UAE's Defence Capabilities - Middle East Business News and Information
EDGE Group entity, TRUST, will collaborate with Diehl Defence in the UAE Abu Dhabi, UAE:February, 2025 – EDGE entity TRUST, a leading provider of advanced equipment, technologies, and services for national security and defence forces, signed a memorandum of understanding (MoU) with Diehl Defence, a partner of the German Bundeswehr and a global technology leader in the development and production of groundbased air defence solutions, guided missiles and ammunition for land, air, and naval forces. Under the MoU, TRUST and Diehl Defence will explore opportunities for collaboration in the UAE, leveraging their respective expertise to support the advancement of defence and security capabilities. The MoU was signed at the International Defence Exhibition & Conference (IDEX) 2025, by Omar Al Zaabi, President of Trading and Mission Support – EDGE, and Dr. Harald Buschek, Chief Programme Officer of Diehl Defence, in the presence of Dr. Jasem Al Zaabi, Vice President of Business Development – EDGE, Dr. Abdulmunem Alshehhi, Chief Operations Officer of TRUST, Katja Decker, Head of Economic Affairs of the German Embassy, and Christoph Schumann, German Defence Attaché. About EDGE: Launched in November 2019, the UAE's EDGE is one of the world's leading advanced technology groups, established to develop agile, bold and disruptive solutions for defence and beyond, and to be a catalyst for change and transformation. It is dedicated to bringing breakthrough innovations, products, and services to market with greater speed and efficiency, to position the UAE as a leading global hub for future industries, and to creating clear paths within the sector for the next generation of highly-skilled talent to thrive. With a focus on the adoption of 4IR technologies, EDGE is driving the development of sovereign capabilities for global export and for the preservation of national security, working with front-line operators, international partners, and adopting advanced technologies such as autonomous capabilities, cyber-physical systems, advanced propulsion systems, robotics and smart materials. EDGE converges R&D, emerging technologies, digital transformation, and commercial market innovations with military capabilities to develop disruptive solutions tailored to the specific requirements of its customers. Headquartered in Abu Dhabi, capital of the UAE, EDGE consolidates more than 35 entities into six core clusters: Platforms & Systems, Missiles & Weapons, Space & Cyber Technologies, Trading & Mission Support, Technology & Innovation, and Homeland Security. About Diehl Defence: As a reliable partner of the German and international armed forces, Diehl Defence is a leading system house for air defence systems. In addition to systems for ground-based air defence, the product portfolio of the company headquartered in Überlingen (Germany) includes guided missiles for all branches of the armed forces, ammunition for army, air force and navy as well as protection systems. In addition, Diehl Defence develops and produces key components such as infrared modules, fuzes and special batteries. Diehl Defence currently employs around 4,500 people generating annual sales of over 1.8 billion euros.
