October 24, 2016 - Ultra Electronics announced today that its Ocean Systems business, based in Braintree, Massachusetts, has been awarded a contract valued at just over $6.6 million from Lockheed Martin for the non-recurring engineering, production of the MK 48 Torpedo Array Nose Assembly as well as engineering services and spares. Options to extend the contract for a further four years could increase this initial value to $27 million.
Under this new contract, Ultra will provide fully integrated Array Nose Assemblies to increase the U.S. Navy inventory of MK 48 torpedoes. The MK48 is used by all classes of U.S. Navy submarines as their primary anti-submarine warfare (ASW) and anti-surface warfare (ASuW) weapon. There is potential for production orders from the U.S. Navy of more than 250 MK 48 torpedoes over the next five years.Rakesh Sharma, Chief Executive of Ultra commented: “I am pleased that Ultra has been awarded this contract. It reinforces Ultra’s Ocean Systems position as a leader in the Undersea Warfare environment through the provision of highly complex acoustic products and capabilities to both the US Navy and international customers.”