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Chemring set to complete business negotiations with Siemens

Defence firm will buy Roke Manor Research for £55m

10 August 2010

British defence firm Chemring is set to complete business negotiations with Siemen's Holdings.

The UK company has agreed to purchase engineering company Roke Manor Research for £55 million as it looks to expand its operations in electronics, software and systems engineering.

David Price, chief executive of Chemring, said: "The acquisition of Roke will substantially enhance our existing technologies in a number of our key market sectors and will provide a growing number of products and technologies that will allow the group to enter adjacent attractive, high growth markets."

Hampshire-based Roke employs around 400 engineers to research and develop a range of technologies, including radar and mobile communications.

The firm also produces a range of products used in electronic warfare such as the counter improvised explosive devices which have been used in Afghanistan.

Roke's revenue for the eight months until the end of May this year was £28 million - an increase of £1.1 million compared to the same period in 2009.

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