Ultra Electronics Holdings plc
("Ultra" or "the Group")
Ultra awarded $49m IDIQ contract for sonar equipment for US Navy
Ultra announces that its Ocean Systems business, based in Braintree, Massachusetts, USA, has been awarded an Indefinite Delivery, Indefinite Quantity (IDIQ) contract worth up to $49.2m by the US Navy. Work on the contract is due to be completed in 2017.
Under the contract, Ultra will supply upgraded versions of its submarine transducers that are stocked by the US Navy to support fleet requirements for new and restored units. The hull-mounted transducers use sonar to detect and localise targets.
Rakesh Sharma, Chief Executive of Ultra, commented:
"I am really pleased that the excellence of Ultra's specialist sonar equipment has been recognised by the award of this IDIQ contract by the United States Navy. This is an excellent example of Ultra delivering its strategies for growth by winning and expanding its positions on long-term programmes. This win also recognises how Ultra continuously improves its range of well proven products and services through a constant drive for innovation."
