Deals18 Mar 2025, 09:13 pm
Nibe Ordnance and Maritime Ltd: LOI for Supply of 155 mm M107 Empty Shells Cancelled
AI Summary
Nibe Ordnance and Maritime Ltd announced the cancellation of a Letter of Intent (LOI) dated June 14, 2024, by its subsidiary, Globe Forge Limited (formerly Nibe Ordnance Global Limited). The LOI was for the supply of 155 mm M107 Empty Shells to Munition India Limited (MIL) for its global customers. The cancellation was due to the Competent Authority of MIL cancelling the original contract between MIL and the ultimate buyer. No liability or claims of any account were made against this cancellation.
Key Highlights
- Nibe Ordnance and Maritime Ltd subsidiary's LOI for supply of 155 mm M107 Empty Shells cancelled
- Cancellation due to Competent Authority of MIL cancelling the original contract between MIL and the ultimate buyer
- No liability or claims of any account made against this cancellation