On 22nd December MSI-DS Ltd announced first sales of the new TERRAHAWK VSHORAD land based mobile gun system on the London Stock Exchange.
Press Release, Norwich, 22 December 2022: First Sales of New Land Based Mobile Gun System. In the Company’s half year results for the period ended 31st October 2022, we made reference to our continuing development of new military products and that during the period, we launched our first land based mobile gun system incorporating our unique ‘counter-drone’ capability, that had already attracted considerable attention in the international market.
Further to this update, we are pleased to announce that we have signed a contract with an overseas customer to supply in 2023 a number of land based mobile gun systems, which are aptly named MSI-DS TERRAHAWK VSHORAD dual feed weapon systems – mobile air defence. The total contract value to the Company is £22.4 million and we are aiming to fulfil the contract as soon as practicable. Revenues under the contract are expected to be recognised during the 2023 calendar year. This contract represents the Company’s first sales of this new gun system.
¤ Our thanks to reader SH for drawing our attention to this London Stock Exchange announcement.