Thursday, August 7, 2014

Ultra/Sparton JV awarded $166m US Navy sonobuoy contract


Ultra Electronics is pleased to announce that its joint venture with Sparton Corporation, ERAPSCO, has been awarded a contract worth $166m for the manufacture of sonobuoys for the US Navy.
The contract award is the base year award of a five year indefinite delivery indefinite quantity (IDIQ) contract that has a ceiling value of $810m. The initial award of $166m will be split as $75.5m and $90.5m to Ultra Electronics and Sparton respectively. Under this contract sonobuoys will be produced at Sparton’s DeLeon Springs, Florida facility as well as at Ultra’s USSI business based in Columbia City, Indiana.
Rakesh Sharma, Chief Executive of Ultra commented, "I am pleased that we have secured this important contract that will continue to provide critical sensor capabilities to the US Navy. This contract is a reflection of the increased focus on anti -submarine warfare and “pivot to the Pacific” spoken about by the US Navy.”

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