Chesterfield Special Cylinders Secures Naval Group Contract for Scorpène-Class Submarine
Chesterfield Special Cylinders has secured a contract with Naval Group for specialized pressure vessels for the Scorpène-class submarine program. The company anticipates additional defense contracts and a significant award for hydrogen storage systems by mid-2026, projecting substantial revenue and earnings growth in FY26, particularly in the latter half of the year.
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Chesterfield Special Cylinders (CSC) has been awarded a contract by French contractor Naval Group for specialized pressure vessels in the Scorpène-class submarine program. The Scorpène-class consists of diesel-electric attack submarines.
CSC anticipates further overseas defense contract awards for newbuild programs and Integrity Management services by mid-2026. Additionally, CSC expects a major contract for large-scale hydrogen storage systems under the UK government's Hydrogen Allocation Round (HAR1) in the same period, which is projected to enhance growth from FY27. The company expects significant revenue and earnings growth in FY26, particularly in the second half of the year, reaffirming a positive mid-term outlook.
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