Ultra Electronics Holdings PLC Contract (1138J)

TIDMULE

RNS Number : 1138J

Ultra Electronics Holdings PLC

07 September 2016

Embargoed until 0700 07 September 2016

Ultra Electronics Holdings plc

("Ultra" or "the Group")

Ultra Electronics awarded contract for the restoration and

sustainment of two Philippines Jacinto Class Patrol Vessels worth GBP7.5m.

Ultra Electronics announced today that its Command & Control Systems business, based in Loudwater, UK has been awarded a contract valued at GBP7.5m from the Philippine Department of National Defence for Phase 3B of the Jacinto Class Patrol Vessel Restoration and Sustainment Programme.

Phase 3B includes the replacement of the electro-optic fire control system and navigation sensors and overhaul of the 25mm and 76mm guns on two ships of the Jacinto Class. The contract also includes the overhaul of the 25mm gun on a third ship of the same class.

The contract will be completed over a period of 25 months and overhaul and fitting work will be conducted in the Philippines. A separate spares and support contract is expected to follow.

Rakesh Sharma, Chief Executive of Ultra commented: "I am pleased that Ultra has been awarded this contract in support of the Republic of the Philippines' plans to modernize its armed forces. It reinforces Ultra's position as a company that makes a valued contribution supporting Navies globally by extending the life their fleets. The award follows on from the successful contract to modernise the Corvette KRI Fatahillah in Indonesia,

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Enquiries:

Rakesh Sharma, Chief Executive 020 8813 4307

Ami Sharma, Interim Group Finance Director

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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September 07, 2016 02:00 ET (06:00 GMT)