Ultra Electronics Gets $650M US Department Of Defense Contract

6th Jul 2010 07:11

LONDON (Dow Jones)--Ultra Electronics Holdings PLC (ULE.LN), a defense, security, transport and energy company, said Tuesday its Tactical Communication Systems business, based in Montreal, Quebec, Canada, has been awarded an Indefinite Delivery, Indefinite Quantity contract worth up to $650 million over seven years. MAIN FACTS: -The award has been made by the Canadian Commercial Corporation acting on behalf of the U.S. Department of Defense. -Under the contract Ultra will supply upgraded versions of its High Capacity Line of Sight, or HCLOS, radios that form the core of the wideband tactical radio systems used by U.S. armed forces engaged in land operations. -The initial contract authorizations under the IDIQ contract are valued at about $48 million and include over 400 HCLOS multiband radios for delivery in the first half of 2011. -Shares closed Monday at 1528 pence. -By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; [email protected] (END) Dow Jones Newswires July 06, 2010 02:11 ET (06:11 GMT)