Ultra Electronics Holdings plc
("Ultra" or "the Group")
Contract Win
Ultra Electronics Holdings plc (ULE) and Sparton DLS, LLC announce the award of subcontracts valued at $204.6 million to their ERAPSCO joint venture for the manufacture of sonobuoys for the United States Navy. The award is a GFY2020 delivery order for sonobuoy requirements under ERAPSCO's five-year Indefinite Delivery Indefinite Quantity contract with the Department of the Navy.
ERAPSCO will award production subcontracts in the amount of $101.7 million and $102.9 million to Ultra Electronics USSI and Sparton. Production operations will take place at Ultra Electronics USSI's Columbia City, IN facility and Sparton's DeLeon Springs, FL facility, and are expected to be completed by March 2022.
Simon Pryce, Chief Executive Officer of Ultra Electronics, commented:
"As expected, this is another significant order for Ultra under the IDIQ contract we were awarded in August last year. This contract underpins our increased focus on anti-submarine warfare and our ability through ERAPSCO to provide a range of key technologies and capabilities to support the U.S. Navy's continued commitment to this important mission.
This award also reflects that, despite the challenges created by Covid 19, we are operating effectively and continue to support our customers due to the extraordinary efforts of our exceptional and committed team".
This announcement is in line with Ultra's policy to announce orders of over 5% of Group sales.
Bill Toti, Chief Executive Officer of Sparton DLS, commented:
"As someone who has been in the antisubmarine warfare business for over 35 years, I am proud that Sparton continues to provide the highest quality sonobuoy engineering and production to the US Navy and to allies throughout the world. Sparton employees work with a great deal of pride and patriotism in support of our customers."
Enquiries:
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Ultra Electronics Holdings plc
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Simon Pryce, Chief Executive
Jos Sclater, Chief Financial Officer
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0208 813 4307
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Gabby Colley, Head of Investor Relations
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07891 206239
Investor.relations@ultra-electronics.com
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MHP Communications
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020 3128 8771
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Tim Rowntree / James Bavister / Pete Lambie
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About Ultra:
Ultra specialises in providing application-engineered tailored solutions. We focus on our customers' mission critical and intelligent systems in the defence, security, critical detection & control markets.
www.ultra.group
About Sparton
Sparton is a world leader in the design, development, testing and production of complex maritime electronic systems, including sonobuoys in support of Anti-Submarine Warfare, submarine deployed products supporting Undersea Warfare, and depth-rated encapsulated systems to support Subsea and Seabed Warfare. Sparton's advanced technology expertise is focused on rapid development of custom solutions for use in harsh, maritime environments deployed from a range of undersea, surface and air platforms.
NAVAIR Public Release 2020-25 Distribution Statement A - "Approved for public release; distribution is unlimited".