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Ukraine fight: Chemring said it received £57m from European Commission
Chemring has been awarded almost £90m to boost defense production in Europe.
The London-listed defense company announced yesterday that it had received £57 million from the European Commission as part of a project to manufacture munitions and missiles for Ukraine.
Chemring also secured a £32 million grant from the Norwegian government to increase production in the country. The EU funding is part of a £427 million program to increase munitions manufacturing capacity to help countries replenish their stocks and deliver them to Ukraine.
It includes measures to support production capacities and address bottlenecks identified throughout the industrial supply chain.
“Both grants support Chemring’s decision to invest in doubling the capacity of this facility in the medium term and strengthen Chemring Nobel’s position as a key strategic supplier to NATO,” said a spokesperson for the society.
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