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(Sharecast News) - Petards said on Tuesday that it has been awarded a defence contract worth £2.2m by Rheinmetall BAE Systems Land Limited.
The AIM-listed developer of advanced security, communication and surveillance systems said 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 will see RBSL deliver 148 Challenger 3 Main Battle Tanks to the British Army.
Activities are scheduled to begin immediately with this initial order due to be fully delivered by the end of 2026, Petards said.
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."
At 1020 GMT, the shares were up 53% at 11.45p.
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