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Chemring restructures McMurdo Pains Wessex
01 Mar 2005
The company says poor demand for its personal locating beacons (PLBs) was mostly to blame, also citing delays in completing the development of a low-cost transponder and increased competition in the pyrotechnics market.
A company statement said the marine electronics business had a bad year and three significant issues combined to create an overall loss in the marine division.
Chemring says the group's GPS PLBs and GPS EPIRBs were badly impacted by product trials in the USA, which recommended several enhancements to the GPS performance. Minor design modifications then attracted negative press and the company says the publicity generated by the reports adversely affected sales volumes and resulted in additional costs being incurred.
