Ultra Electronics Holdings PLC Contract (1777T)

TIDMULE

RNS Number : 1777T

Ultra Electronics Holdings PLC

04 January 2017

Embargoed until 0700 4 January 2017

Ultra Electronics Holdings plc

("Ultra" or "the Group")

Ultra awarded extension to Sonobuoy Capability

contract valued at GBP9.7 million

Ultra Electronics announced today that its Command & Sonar Systems sonobuoy facility, based in Greenford, Middlesex, has been awarded a GBP9.7m contract extension for the supply and production of sonobuoys for the Royal Navy's Merlin Mk2 Maritime Patrol Helicopter fleet.

The Group was initially awarded a contract in 2015 to supply sonobuoys for the Royal Navy's Merlin Mk2 Maritime Patrol Helicopter. This contract extension ensures that the Royal Navy will continue to maintain a persistent Anti-Submarine Warfare surveillance capability against hostile submarines. It also enables Ultra to support future technology capability insertion and international collaboration.

Rakesh Sharma, Chief Executive of Ultra commented:

"Ultra is delighted to have secured an extension to this important contract. Our long-standing partnership with the Merlin project team has allowed us to sustain and further develop the nation's airborne anti-submarine warfare capability, preserving a key battle-winning advantage for UK armed forces."

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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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January 04, 2017 02:00 ET (07:00 GMT)