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(Alliance News) - Military and milking equipment maker Avon Rubber PLC on Monday announced a new USD265 million contract with the US Army.
Avon Rubber will provide the US Army with torso protection X-side ballistic insert body armour plates. The contract lasts for four years.
Wiltshire-based Avon Rubber expects initial orders to start in its financial year ending September 2021.
Chief Executive Paul McDonald said: "This is another significant, multi-year contract for Avon Protection and demonstrates our position as a leading provider of next-generation body armour to the US armed forces.
"This further strengthens the medium-term outlook and visibility for Avon Protection and represents encouraging momentum in our newly acquired ballistic protection business."
The body armour to be made for the US Army joined Avon Rubber's portfolio in its acquisition of 3M Inc's ballistics protection unit for up to USD116 million, which was first announced August last year.
Last week, Avon Rubber - which also provides milking equipment for dairy farmers - reported another contract win for its Protection business, with the US Department of Defense granting a contract worth USD21 million for the supply of aircrew masks.
Shares were 0.9% higher on Monday morning in London at a price of 2,755.00 pence each.
By George Collard; georgecollard@alliancenews.com
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