Ultra Electronics Holdings plc (ULE) and Sparton Corporation (NYSE:SPA) announce the award of subcontracts valued at $77.6 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 $36.1 million and $41.5 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 April 2019.
"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."
“I am pleased that we have secured this important contract that will continue to provide critical sensor capabilities to the U.S. Navy. This contract is a reflection of the increased focus on anti-submarine warfare and the U.S. Navy’s commitment to providing key technology for this important mission,” stated Rakesh Sharma, Chief Executive of Ultra Electronics.
Source: Sparton Corporation
Date: May 15, 2017