Ultra Electronics Holdings PLC Contract win (6183T)

TIDMULE

RNS Number : 6183T

Ultra Electronics Holdings PLC

16 October 2017

16 October 2017

Ultra Electronics Holdings plc

("Ultra" or "the Group")

Ultra Electronics PCS awarded $16m in contracts for additional HiPPAG stores ejections systems

Ultra Electronics announced today that its Precision Control Systems (PCS) business based in Cheltenham, UK, has received contracts valued $16 million from Boeing and Lockheed Martin. The contracts see PCS supply additional tranches of their world-leading HiPPAG stores ejection systems for front line US and international strike aircraft. Due to security considerations, no further information can be provided in relation to this award.

Rakesh Sharma, Chief Executive of Ultra commented: "We are pleased to have extended our contracts with both prestigious Prime contractors. Our continued support of the US and international warfighters in their daily missions underscores the value of Ultra Electronics solutions which are fully accredited and proven effective."

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Enquiries:

Rakesh Sharma, Chief Executive 02088134307

Ami Sharma, Group Finance Director

Susan McErlain, Corporate Affairs Director 07836522722

James White, MHP Communications 02031288756

www.ultra-electronics.com | www.ultra-pcs.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 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 16, 2017 02:00 ET (06:00 GMT)