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Ultra Electronics scores major contract win

Thu, 02nd Feb 2012 07:58

Ultra Electronics' USSI business has been awarded US Navy contracts for sonobuoys, the acoustic sensors which are used to detect the presence of submarines, worth just over $20m. The win brings the total amount awarded to the high-tech defence firm since October to $29.2m. Delivery of the sonobuoys will be made over a twelve month period beginning in the early part of this year. Rakesh Sharma, Chief Executive of Ultra, said: "Ultra's focus on innovation coupled with its expertise in high quality manufacturing and on-time delivery has resulted in these further orders for sonobuoys.""We are pleased that the US Navy continues to recognise the support it receives from USSI by awarding these contracts. Awards such as these help maintain the Group's order book and show the resilience that Ultra derives by fostering enduring customer relationships," he said.The share price 0.51% to 1,573p to 08:12.NR