Meggitt wins US army contract

Engineering firm Meggitt yesterday unveiled a $475m (£301.5m) contract to provide the US army with live-fire training ranges. Meggitt, which was promoted to the FTSE 100 index last month, said the fixed-price contract would run over the next five years at US army operations worldwide. Meggitt is working alongside four other companies on the contract, including defence giant Lockheed Martin and Saab Training. Ronald Vadas, president of Meggitt Training Systems, said in a statement: "Our selection is testament to the strength of our 15-year relationship with the US Army and we look forward to continuing to respond to its evolving range development and modernisation requirements.”