40mm ammunition Low Velocity family (photo : Stengg)
LONDON --- ST Engineering today announced that its land systems arm, ST Kinetics, has secured a contract worth about £2.8m (S$6.6m) from the UK Ministry of Defence (UK MOD) for the supply of 40mm ammunition. The contract was signed with Advanced Material Engineering Pte. Ltd., a wholly-owned subsidiary of ST Kinetics. Delivery will begin in the last quarter of this year and is expected to be completed by end 2010.
This contract from the UK MOD is for the supply of 40mm Low Velocity ammunition. ST Kinetics has been supplying 40mm ammunition to the UK MOD since 2002. In May this year, it announced a contract of about £9.5m (S$20.7m) to supply the UK MOD with 40mm High Velocity Target Practice Tracer (HV TPT) rounds.
ST Kinetics is today the world's leading provider of 40mm grenade solutions offering various 40mm grenade launcher weapon systems and an unparalleled range of 40mm ammunition including high and low velocity, high explosive, enhanced blast, self-destruct, air bursting, surveillance, insensitive and less-than-lethal rounds. The company is continually exploring new and innovative applications and improving existing ones. It is also one of the first in the world to demonstrate a ready and working 40mm air bursting munitions system.
"We are very pleased with this latest order. This is UK MOD's first order of our Low Velocity rounds and it reflects the continued confidence of the UK MOD in the quality of our 40mm ammunition. ST Kinetics will continue to lead in 40mm solutions and innovate to provide cost effective solutions to our global customers," said SEW Chee Jhuen, President, ST Kinetics.
This contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.
ST Kinetics is showcasing its wide range of 40mm solutions at Defence Systems & Equipment International (DSEi) 2009 from 8 to 11 September 2009 in London, UK. Also on display is the Bronco All Terrain Tracked Carrier, a robust and proven articulated platform with a payload of more than 5 tons. Two vehicles on show are the troop carrier and logistics variants of the Bronco, upon which the WARTHOG all terrain vehicle is based. ST Kinetics' displays are located at Stand 1357.
AME is a wholly-owned subsidiary of ST Kinetics. It designs and manufactures conventional and smart munitions, as well as guided system components, and has manufacturing capabilities in advanced protective materials, energetics and composite materials. It is also the leading supplier of 40mm grenade munitions in the world.
ST Kinetics (Singapore Technologies Kinetics Ltd) is the land systems and specialty vehicles arm of ST Engineering, an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported audited revenue of S$5.34b in FY2008 and ranks among the largest companies listed on the Singapore Exchange. ST Engineering has more than 20,000 employees worldwide, and over 100 subsidiaries and associated companies in 24 countries and 42 cities.