Business

Sparton joint venture awarded $101.1 million Navy contract

Posted May 10, 2016 1:00 am

Business Wire

SCHAUMBURG - A joint partnership between Ultra ElectronicsHoldings plc and Sparton Corp. (ERAPSCO) was awarded subcontracts valued at $101.1 million for the manufacture of sonobuoys for the United States Navy.

The award is a contract release for sonobuoy requirements under ERAPSCO's five year contract. ERAPSCO will provide production subcontracts in the amount of $46.8 million and $54.3 million to Ultra Electronics USSI and Sparton De Leon Springs, LLC respectively.

Production will take place at Ultra Electronics USSI's Columbia City, Indiana facility and Sparton's De Leon Springs, Florida 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 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," said Rakesh Sharma, chief executive of Ultra Electronics.

Interim President and Chief Executive Officer of Sparton Corporation Joseph Hartnett added "We remain committed to delivering high performance product solutions to enable their success in undersea warfare missions today and in the future."

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