Ultra Electronics Holdings plc (ULE) and Sparton Corporation (NYSE: SPA) announce the award of subcontracts valued at $20 million to their ERAPSCO joint venture, for the manufacture of sonobuoys for the United States Navy. The award is a GFY15 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 $9.6 million and $10.8 million to Ultra Electronics USSI and Sparton De Leon Springs, LLC respectively. Production will take place at Ultra Electronics USSI’s Columbia City, IN facility and Sparton’s De Leon Springs, FL facility and is expected to be completed by September 2017.
“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 the US Navy’s commitment to providing key technology for this important mission,” stated Rakesh Sharma, Chief Executive of Ultra Electronics.
President and Chief Executive Officer of Sparton Corporation, Cary B. Wood, elaborated by stating, “We continue to move the anti-submarine warfare mission forward through our partnership with the U.S. Navy by providing leading products and solutions that meet critical performance needs.”
Source: Sparton Corporation
Date: Nov 2, 2015