ERAPSCO Awarded $30.3 M for US Navy Sonobuoy Contract
Sparton Corporation (NYSE:SPA) and Ultra Electronics Holdings plc (ULE) announce the award of subcontracts valued at $30.3 million to their ERAPSCO joint venture, for the manufacture of sonobuoys for the United States Navy. The award is a GFY17 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 $18.5 million and $11.8 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 November 2018.
“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.
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"We are pleased that the Navy continually shows confidence in Sparton, to deliver a product, so vital to the safety of the American public," said Joe Hartnett, Interim President and Chief Executive Officer of Sparton Corporation. "We are committed to maintaining that level of trust, by manufacturing high-quality devices that perform flawlessly."
Source : Sparton Corporation - view original press release
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