Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Defence contractor Ultra Electronics said its joint venture with Sparton DLS had won subcontracts worth $204.6m for the manufacture of sonobuoys for the US Navy.
The award to the Erapsco JV was for a 2020 financial year delivery order for sonobuoy requirements under its five-year indefinite delivery indefinite quantity contract with the Department of the Navy.
Erapsco would production subcontracts worth $101.7m and $102.9m to Ultra Electronics and Sparton.
Production operations would take place at Ultra Electronics USSI's Columbia City, Indiana facility and Sparton's DeLeon Springs, Floriday facility, and were expected to be completed by March 2022.
'As expected, this is another significant order for Ultra under the IDIQ contract we were awarded in August last year,' chief executive Simon Pryce said.
'This contract underpins our increased focus on anti-submarine warfare and our ability through Erapsco to provide a range of key technologies and capabilities to support the US Navy's continued commitment to this important mission.'