British industrial materials group Morgan Crucible has entered into a joint venture with US-based Force Protection to receive an £84m contract to supply 97 Wolfhound tactical support vehicles to the British Ministry of Defence.

The new company, Integrated Survivability Technologies (IST), consists of a 50:50 joint venture formed by its vehicle armour maker unit NP Aerospace and Force Protection.

The contract will provide NP Aerospace with more than £30m in revenue, Morgan, whose carbon and ceramic components are used to make products from body armour to hip replacements.

Force Protection designs, develops and makes ballistic- and blast-protected wheeled vehicles, deployed by the United States military.

The company has reduced its exposure to the automotive and semi-conductor sectors and focuses on the defence, aerospace and medical markets, which it sees as having good potential.

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By GlobalData