Sparton Corporation and USSI Joint Venture (SonobuoyTech Systems) Awarded USD 11.4M in Direct Foreign Sales Contracts
Sparton Corporation (NYSE: SPA) and USSI, a subsidiary of Ultra Electronics Holdings plc (ULE) announce the award of subcontracts valued at $11.4 million from their ERAPSCO/SonobuoyTech Systems joint venture, for the manufacture of multiple Passive and Active Sonobuoys in support of International end user exercises and training. ERAPSCO/SonobuoyTech Systems will provide a manufacturing subcontract in the amount of $9.0 million to Sparton Electronics Florida and $2.4 million to USSI. Production will take place at Sparton’s DeLeon Springs, FL facility as well as USSI’s facility in Columbia City, IN and is expected to be completed by December 2013. Sparton’s subcontracted amount is not included in its sales backlog for the reporting period ending March 31, 2012.
Global Submarine Market 2016-2020
ERAPSCO/SonobuoyTech Systems was awarded these contracts for Passive and Active sonobuoys that are used for detection, classification, and localization of adversary submarines during peacetime and combat operations.
ERAPSCO/SonobuoyTech Systems is pleased to have been selected to assist our International customer efforts in protecting its borders by providing the leading-edge products developed by our joint venture partners. We welcome opportunities to play a role in the defense activities of our foreign allies and the expansion of the number of contracts we’ve received from foreign nations demonstrates ERAPSCO’s deliberate progress into markets outside the U.S.
Source : Sparton Corporation
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