Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Ultra Electronics Wins $19 Mln US Navy Contract For Acoustic Countermeasures

Ultra Electronics Holdings Plc. (ULE.L) said its Ocean Systems business or UEOS, located in Massachusetts, U.S. has been awarded a three-year contract totaling over $19 million from the US Navy.

The contract is for the production of the Naval Acoustic Electromechanical Beacon or NAE Beacon expendable countermeasure. It includes a base year and two additional options for 2015 and 2016.

The NAE Beacon device is designed to counter torpedo threats, performing pre-selected missions while suspended from a float and tether.

Ultra is a recognised technical leader in undersea defence and electronics equipment and systems.

Click here to receive FREE breaking news email alerts for Ultra Electronics and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The U.K. economy grew more than estimated in the second quarter and the current account deficit widened from the first quarter, the Office for National Statistics said Tuesday. Gross domestic product grew 0.9 percent sequentially, up from the prior estimate of 0.8 percent. The annual growth was confirmed at 3.2 percent. Eurozone inflation slowed in September, as expected, to the lowest since late 2009 and the unemployment rate remained stable at a double digit level in August putting pressure on the European Central Bank to launch a full-blown easing. Inflation came in at 0.3 percent, slower than August's 0.4 percent. This was the lowest since October 2009, when prices fell 0.1 percent. Chinese authorities on Tuesday eased some rules for mortgages for buying a second home, in a bid to boost the housing market. The People's Bank of China and the China Banking Regulatory Commission said in a joint statement that buyers who already own one apartment, but have paid off the mortgage...
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.