Ultra Electronics Holdings PLC Contract win (8072L)
July 24 2017 - 1:00AM
UK Regulatory
TIDMULE
RNS Number : 8072L
Ultra Electronics Holdings PLC
24 July 2017
24 July 2017
Ultra Electronics Holdings plc
("Ultra" or "the Group")
Ultra Electronics awarded Defence Systems Contract
Ultra Electronics announced today that its Maritime Systems
business, based in Dartmouth, Canada, has been awarded a contract
from the Indian Ministry of Defense to supply the Indian Navy
Defence Systems.
Under this contract Maritime Systems, supported by its sister
business Command and Sonar Systems, in Greenford, United Kingdom
and partner Mahindra Defence Systems in Delhi, India, will deliver
systems based upon Ultra's highly successful Sea Sentor product in
current operation around the world including the UK Royal Navy.
Due to the initial engineering phase and time to place
sub-contracts, this order will not make a meaningful contribution
to 2017 revenue. The contract will be executed over the next three
years with a greater weighting to the second half of this period as
production deliveries are made.
Rakesh Sharma, Chief Executive of Ultra commented: "I am very
pleased that Ultra has been awarded this contract by the Indian
MoD. It reinforces Ultra's position as a leader in the Naval
defence market where it provides highly complex sensor systems,
complex processing products and countermeasures to both our
domestic and international customers
- ENDS -
Enquiries:
Rakesh Sharma, Chief Executive 020 8813 4307
Amitabh Sharma, 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 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
END
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