Ultra Electronics USSI and Sparton Corporation Joint Venture (ERAPSCO) Awarded $39.6M for U.S. Navy Sonobuoy Contracts
30 Outubro 2018 - 9:30AM
Business Wire
Ultra Electronics Holdings plc (ULE) and
Sparton Corporation (NYSE:SPA) announce the award of
subcontracts valued at $39.6 million to their ERAPSCO joint
venture, for the manufacture of sonobuoys for the United States
Navy. The award is a GFY18 ERAPSCO Indefinite Delivery Indefinite
Quantity (IDIQ) contract release for sonobuoy requirements under
ERAPSCO’s five year contract. ERAPSCO will provide production
subcontracts in the amount of $19.4 million and $20.2 million to
Ultra Electronics USSI and Sparton DeLeon Springs, LLC
respectively. Production will take place at Ultra Electronics
USSI’s Columbia City, IN facility and Sparton’s DeLeon Springs, FL
facility and is expected to be completed by September 2020.
Simon Pryce, Chief Executive Officer of Ultra Electronics,
commented: “This significant contract award underscores the
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.”
"We are proud to contribute to the defense of our great nation
and allies throughout the world," said Joe Hartnett, Interim
President and Chief Executive Officer of Sparton Corporation. "We
are committed to delivering high-quality products to support that
mission."
Further information about Ultra
Ultra Electronics is a group of businesses which manage a
portfolio of specialist capabilities, generating highly
differentiated solutions and products in the defense &
aerospace, security & cyber, transport and energy markets by
applying electronic and software technologies in demanding and
critical environments to meet customer needs.
Ultra has world-leading positions in many of its specialist
capabilities and, as an independent, non-threatening partner, is
able to support all of the main prime contractors in its sectors.
As a result of such positioning, Ultra’s systems, equipment or
services are often mission or safety-critical to the successful
operation of the platform to which they contribute. In turn, this
mission-criticality secures Ultra’s positions for the long term
which underpins the superior financial performance of the
Group.
Ultra offers support to its customers through the design,
delivery and support phases of a program. Ultra businesses have a
high degree of operational autonomy where the local management
teams are empowered to devise and implement competitive strategies
that reflect their expertise in their specific niches. The Group
has a small head office and executive team that provide to the
individual businesses the same agile, responsive support that they
provide to customers as well as formulating Ultra’s overarching,
corporate strategy.
Across the Group’s three divisions, Ultra operates in the
following eight market segments:
• Aerospace
• Communications
• C2ISR
• Infrastructure
• Land
• Maritime
• Nuclear
• Underwater Warfare
About Sparton Corporation
Sparton Corporation (NYSE:SPA), now in its 119th year, is a
provider of complex and sophisticated electromechanical devices
with capabilities that include concept development, industrial
design, design and manufacturing engineering, production,
distribution, field service and refurbishment. The primary markets
served are Medical & Biotechnology, Military & Aerospace
and Industrial & Commercial. Headquartered in Schaumburg,
Illinois, Sparton currently has thirteen manufacturing locations
and engineering design centers worldwide. Sparton's website may be
accessed at www.sparton.com.
Safe Harbor and Fair Disclosure Statement
Safe Harbor statement under the Private Securities Litigation
Reform Act of 1995: To the extent any statements made in this
release contain information that is not historical, these
statements are essentially forward-looking and are subject to risks
and uncertainties, including the difficulty of predicting future
results, the regulatory environment, fluctuations in operating
results and other risks detailed from time to time in Sparton’s
filings with the Securities and Exchange Commission (SEC). The
matters discussed in this press release may also involve risks and
uncertainties concerning Sparton’s services described in Sparton’s
filings with the SEC. In particular, see the risk factors described
in Sparton’s most recent Form 10K and Form 10Q. Sparton assumes no
obligation to update the forward-looking information contained in
this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20181030005006/en/
Enquiries for Ultra Electronics:Patrick AllisonUltra Electronics
USSI Business Development Vice PresidentPhone: (260)
255-2251www.ultra-ussi.comorContact Information for
Sparton:Investors:Institutional Marketing Services (IMS)John
Nesbett/Jennifer Belodeau,
203-972-9200jnesbett@institutionalms.comorCompany:Sparton
CorporationJoseph McCormack, 847-762-5812jmccormack@sparton.com
Sparton (NYSE:SPA)
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