Avon Protection PLC (LSE:AVON), the military equipment company, has secured a contract to supply the German Navy with its products.
Multi-role rebreathers, the world’s most advanced underwater life support devices, will be supplied to its European clients for their diving operations.
An exact figure for the deal has not been given but in a statement, the company confirmed it was a “multi-million euro” deal.
The London-listed company will also provide ongoing technical support as part of the agreement.
Jos Sclater, chief executive officer at Avon Protection PLC (LSE:AVON), said: "The selection of our rebreather by the German Navy is a significant award for Avon Protection and the military diving personnel who will benefit from the cutting-edge technologies and enhanced operability it will bring them."
Avon Protection shares have started 2024 positively and are up more than 3% at almost 900p. prior to the market opening on Monday.
The group saw revenues and underlying profits slump in the 2023 financial year after demand for its respiratory products weakened.