Sparton and Ultra Electronics USSI JV (ERAPSCO) Awarded $28.4m for US Navy Sonobuoy Contracts

Sparton Corporation (NYSE:SPA) and Ultra Electronics Holdings plc (ULE) announce the award of subcontracts valued at $28.4 million to their ERAPSCO joint venture, for the manufacture of sonobuoys for the United States Navy. The award is a GFY18 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 $17.2 million and $11.2 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 December 2019.

"Undersea warfare is a vital part of the defense of our nation and our allies throughout the world," said Joe Hartnett, Interim President and Chief Executive Officer of Sparton Corporation. "We are honored that the Navy continues to rely on us to manufacture a product so fundamental to that task."

“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 Douglas Caster, Executive Chairman of Ultra Electronics.