Ultra Electronics USSI and Sparton Corporation Joint Venture (Sonobuoy TechSystems) Awarded $9.3M in Foreign Sales Contracts
Aug. 08, 2018
SCHAUMBURG, Ill. & COLUMBIA CITY, Ind.--(BUSINESS WIRE)--Aug 8, 2018--Ultra Electronics USSI, a subsidiary of Ultra Electronics Holdings plc (ULE) and Sparton Corporation (NYSE: SPA), announce the award of subcontracts valued at $9.3 million from their ERAPSCO/Sonobuoy TechSystems joint venture. ERAPSCO/Sonobuoy TechSystems will provide manufacturing subcontracts in the amount of $4.5 million to Sparton DeLeon Springs, LLC and $4.8 million to Ultra Electronics USSI. Production will take place at Ultra Electronics USSI’s Columbia City, IN facility and Sparton’s DeLeon Springs, FL facility.
ERAPSCO/SonobuoyTech Systems was awarded multiple foreign contracts for the manufacture of Passive and Active sonobuoys to support various underwater missions for detection, classification, and localization of adversary submarines during peacetime and combat operations.
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Further information 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 Web site may be accessed at www.sparton.com.
About Ultra Electronics: 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 programme. 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:
• Underwater Warfare
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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180808005099/en/
CONTACT: Sparton Investors:
IMS Investor Relations
John Nesbett/Jennifer Belodeau, 203-972-9200
Joseph McCormack, 847-762-5812
Ultra Electronics USSI:
Patrick Allison, 260-255-2251
Business Development Vice President
KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS INDIANA
INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY TRANSPORT MARITIME MANUFACTURING AEROSPACE DEFENSE CONTRACTS
SOURCE: Sparton Corporation & Ultra Electronics
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PUB: 08/08/2018 08:30 AM/DISC: 08/08/2018 08:30 AM