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Meggitt unveils two new aerospace contracts worth several million dollars

The FTSE 100-engineering group has unveiled two new deals – one with Chinese aircraft manufacturer XAC and another with US outfit Textron Aviation
boeing plane at farnborough
An estimated US$50bn+ worth of deals have already been announced at this year’s Farnborough Airshow

The Farnborough Airshow has proved to be lucrative once again for Meggitt PLC (LON:MGGT), with the aerospace and defence engineer winning another two new contracts at this year’s show.

Most of the industry’s biggest players attend the week-long event and more than US$50bn worth of contracts are estimated to have been signed so far this time, with a couple of days still to go.

Meggitt announced on Monday it had won a contract to supply fuel cell equipment for the UH-60 Black Hawk helicopter until 2022.

Today (July 18), the FTSE 100 engineer unveiled two new deals – one with Chinese aircraft manufacturer XAC and another with US outfit Textron Aviation.

Meggitt secures US$21mln Black Hawk contract

For XAC, Meggitt is to supply various safety systems for the MA700 plane, while the company is to develop a wireless tire pressure checking system for Textron’s business jets.

The exact value of the two contracts is unknown, but the XAC one alone is said to be worth several million.

Meggitt shares rose 1.4% to 546.6p in early deals on Wednesday.

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