Graham Honeyman, chief executive, said: “These orders provide a boost for our operations as we work towards our business turnaround plan.

“Work has already started on these orders and the first parts will complete this year with another tranche of components anticipated to follow in 2017. These are complex components and require detailed modelling and manufacturing to highly specific tolerances.”

He added the company hopes to use the orders – one of Forgemasters' biggest contracts in years – to leverage its plan to expand its defence offering.

Forgemasters, which was founded in 1805, is expected to play a key role in the construction of Britain’s own next-generation “Successor” nuclear submarines. The programme is moving ahead after last month’s Parliamentary vote in favour of replacing the Royal Navy’s Trident submarines in a £31bn programme with a £10bn contingency fund.

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