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Ultra Electronics: ERAPSCO JV Gains U.S. Navy Sonobuoy Contract - Quick Facts

Ultra Electronics (ULE.L) and Sparton DeLeon Springs said their JV has been awarded an IDIQ contract for the manufacture of sonobuoys for the U.S. Navy. The contract provides the base year award of a five year IDIQ contract valued at not-to-exceed $1.04 billion.

ERAPSCO will provide production subcontracts for the base year delivery order in the amount of $75.75 million and $75.26 million to Ultra Electronics USSI and Sparton.

Simon Pryce, CEO of Ultra Electronics said: "We will continue to provide critical sensor capabilities to the US Navy for many years ahead."

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