Last checked at 1 Sep 2023 13:44
1 September 2023
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018
MS INTERNATIONAL plc
(the "Company")
CONTRACT TO MAINTAIN THE MSI-DS 30mm WEAPON SYSTEM FOR THE US NAVY
The Company is pleased to announce that a maintenance contract has been awarded by the United States Navy ('NAVSEA') to our wholly owned subsidiary company, MSI-Defence Systems US LLC, which is based in Rock Hill, South Carolina, USA.
The contract is on a sole source basis for the procurement of supplies and services to maintain the US Navy Mk38 MOD4 weapon system (which is the US Navy nomenclature for our MSI-DS 30mm naval weapon system). The contract commences with immediate effect, with a budget ceiling of $49.8 million over the period to 30th June 2028.
In the Company's annual financial report for the year ended 30 April 2023, the Chairman, Michael Bell, stated "Regarding the ongoing opportunities in the US, we cautiously believe that we are well placed to be awarded a contract to supply our MSI-DS 30mm naval weapon system to the US Navy."
The Company has yet to be awarded a production and supply contract related to the US Navy Mk38 MOD4 weapon system but the awarding of this maintenance supply and service contract substantially increases our confidence that we shall also be awarded such a production contract from "NAVSEA", shortly.
For further information please contact:
MS INTERNATIONAL plc Tel: +44 (0)13 0232 2133
Michael Bell
Shore Capital
Nomad and Broker Tel: +44 (0)20 7408 4090
Patrick Castle/Daniel Bush/Lucy Bowden