New Defence Contract Award

In brief · summary, not quotable

Petards Group PLC announced a new defence contract valued at £2.2 million awarded to its subsidiary, Petards Joyce-Loebl, by Rheinmetall BAE Systems Land Limited. This contract is for initial engineering design and obsolescence management services supporting the Challenger 3 Upgrade Programme, which will deliver 148 Main Battle Tanks to the British Army. Activities are set to commence immediately, with full delivery of this initial order expected by the end of 2026, representing the largest Defence engineering services order for the Group in many years.

Full announcement

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Petards, the AIM quoted developer of advanced security, communication and surveillance systems, announces that its subsidiary, Petards Joyce-Loebl (PJL), has been awarded a contract worth £2.2 million by Rheinmetall BAE Systems Land Limited ("RBSL").

The contract is for the provision of initial engineering design and obsolescence management services in support of RBSL's Challenger 3 Upgrade Programme ("the Programme") under which RBSL will deliver 148 Challenger 3 Main Battle Tanks to the British Army.

Activities are planned to commence immediately with this initial order scheduled to be fully delivered by the end of 2026.

Commenting on the award Petards Chairman Raschid Abdullah said;

"We are delighted that RBSL has chosen to work with Petards on this important UK project which is the largest Defence engineering services order received by the Group for many years and we hope to further our involvement in the Programme as it progresses to its production phase.

"We believe this award to be a recognition of Petards Joyce-Loebl's strong heritage within the military vehicle systems market and of its longstanding presence in the provision of design and manufacture of robust electronic products for demanding military applications."

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