Ultra Electronics Holdings PLC Contract Win (9426L)

TIDMULE

RNS Number : 9426L

Ultra Electronics Holdings PLC

10 October 2016

Embargoed until 0700 10 October 2016

Ultra Electronics Holdings plc

("Ultra" or "the Group")

Ultra Electronics awarded $82m contract for control and monitoring

of US Navy critical infrastructure

Ultra Electronics today announced the award of a US $34.6 million cost-plus-fixed-fee contract by the Department of the Navy to continue providing cyber-secure critical infrastructure solutions. Initial tasks of US $13.9 million should be completed by September 2017.

The contract includes options which, if exercised, will bring the cumulative value to more than US $82 million and extend the contract through September 2020.

Under the contract, Ultra Electronics, 3eTI will continue to work with the Navy to design, develop, integrate and install a variety of cyber-secure systems for critical infrastructure control and monitoring. These solutions include intrusion detection, industrial control systems, and endpoint security. Work will be performed in California, Hawaii and in the Washington, DC, areas.

"We are pleased to have the Department of Defense's continued confidence in delivering cyber-physical network solutions that afford a defense-in-depth framework for ensuring energy security," said Rakesh Sharma, Chief Executive, Ultra Electronics. "The award underscores the significance of Ultra and 3eTI's many accreditations and certifications in the security and cyber domains for federal applications."

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Enquiries:

 
 Rakesh Sharma, Chief Executive 
  Amitabh Sharma, Group 
  Finance Director                   020 8813 4307 
 Susan McErlain, Corporate 
  Affairs Director                   07836 522 722 
  James White, MHP Communications     020 3128 8756 
 

www.ultra-electronics.com

Further information about Ultra:

Ultra Electronics is an internationally successful defence, security, transport and energy company with a long, consistent track record of development and growth. The Group manages a portfolio of specialist capabilities generating innovative solutions to customer needs. Ultra applies electronic and software technologies in demanding and critical environments ranging from military applications, through safety-critical devices in aircraft, to nuclear controls and sensor measurement. These capabilities have seen the Group's highly differentiated products contributing to a large number of platforms and programmes.

Ultra has world-leading positions in many of its specialist capabilities and, as an independent, non-threatening partner, is able to support all of the main prime contractors in its sectors. As a result of such positioning, Ultra's systems, equipment or services are often mission or safety-critical to the successful operation of the platform to which they contribute. In turn, this mission-criticality secures Ultra's positions for the long term which underpins the superior financial performance of the Group.

Ultra offers support to its customers through the design, delivery and support phases of a programme. Ultra businesses have a high degree of operational autonomy where the local management teams are empowered to devise and implement competitive strategies that reflect their expertise in their specific niches. The Group has a small head office and executive team that provide to the individual businesses the same agile, responsive support that they provide to customers as well as formulating Ultra's overarching, corporate strategy

Across the Group's three divisions, Ultra operates in the following eight market segments:

 
                              *    Land 
        *    Aerospace 
                              *    Maritime 
        *    Communications 
                              *    Nuclear 
        *    C2ISR 
 
        *    Infrastructure          *    Underwater Warfare 
 

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This information is provided by RNS

The company news service from the London Stock Exchange

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October 10, 2016 02:00 ET (06:00 GMT)