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(Alliance News) - Avon Rubber PLC on Thursday said it has secured a contract worth up to USD93 million to develop and supply the US Army with a new integrated head protection system.
The contract will follow on from the existing low-rate initial production contract for the integrated head protection system which comes to an end in 2021, the FTSE 250-listed company added.
Chief Executive Officer Paul McDonald said: "This contract award demonstrates our ongoing focus on technological excellence and commitment to developing the next generation of life critical personal protection systems. This further strengthens our medium-term outlook and represents further momentum in our leading ballistic helmet portfolio."
Shares in respiratory protection equipment manufacturer were down 0.4% at 4,205.00 pence each in London on Thursday morning.
By Tapan Panchal; tapanpanchal@alliancenews.com
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