Ultra Electronics wins US Navy contract

4th Aug 2014 10:25

Ultra Electronics on Monday said its joint venture with Sparton Corp., ERAPSCO, has been awarded a contract worth $166m for the manufacture of sonobuoys for the US Navy.Under the five-year contract, which has a ceiling value of $810m, sonobuoys will be produced at Sparton's DeLeon Springs, Florida facility and at Ultra's USSI business in Columbia City, Indiana.The initial award of $166m will be split as $75.5m and $90.5m to Ultra Electronics and Sparton respectively. "I am pleased that we have secured this important contract that will continue to provide critical sensor capabilities to the US Navy," said chief executive of Ultra, Rakesh Sharma."This contract is a reflection of the increased focus on anti -submarine warfare and 'pivot to the Pacific' spoken about by the US Navy."RD