Ultra Electronics USSI

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Ultra Electronics USSI and Sparton Corporation Joint Venture (Sonobuoy TechSystems) awarded $30.1m in foreign sales contracts

26 Jan 18 - Ultra Electronics Holdings plc (ULE) and Sparton Corporation (NYSE: SPA), announce the award of subcontracts valued at $30.1 million from their ERAPSCO/Sonobuoy TechSystems joint venture. ERAPSCO/Sonobuoy TechSystems will provide manufacturing subcontracts in the amount of $15.6 million to Ultra Electronics USSI and $14.5 million to Sparton DeLeon Springs, LLC.  Production will take place at Ultra Electronics USSI’s Columbia City, IN facility and Sparton’s DeLeon Springs, FL facility.

ERAPSCO/SonobuoyTech Systems was awarded multiple foreign contracts for the manufacture of Passive and Active sonobuoys to support various underwater missions for detection, classification, and localization of adversary submarines during peacetime and combat operations.

Further information about Sparton Corporation:

Sparton Corporation (NYSE:SPA), now in its 117th year, is a provider of complex and sophisticated electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering,production, distribution, field service and refurbishment. The primary markets served are Medical & Biotechnology, Military & Aerospace and Industrial & Commercial. Headquartered in Schaumburg, Illinois, Sparton currently has thirteen manufacturing locations and engineering design centers worldwide. Sparton's Web site may be accessed at www.sparton.com.

Further information about Ultra:

Ultra Electronics is an internationally successful defense, 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 programs.

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:

·  Aerospace

·  Land

·  Communications

·  Maritime

·  C2ISR

·  Nuclear

·  Infrastructure

·  Underwater Warfare

Safe Harbor and Fair Disclosure Statement

Certain statements described in this press release are forward-looking statements within the scope of the Securities Act of 1933, as amended (the “Securities Act”), and the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements may be identified by the words “believe,” “expect,” “anticipate,” “project,” “plan,” “estimate,” “will” or “intend” and similar words or expressions. These forward-looking statements reflect Sparton’s current views with respect to future events and are based on currently available financial, economic and competitive data and its current business plans. Actual results could vary materially depending on risks and uncertainties that may affect Sparton’s operations, markets, prices and other factors. Important factors that could cause actual results to differ materially from those forward-looking statements include, but are not limited to, Sparton’s financial performance and the implementations and results of its ongoing strategic initiatives. For a more detailed discussion of these and other risk factors, see Part I, Item 1A, Risk Factors and Part II, Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, in Sparton’s Form 10-K for the year ended June 30, 2009, and its other filings with the Securities and Exchange Commission. Sparton undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

Contact Information:

Sparton Investors:

Institutional Marketing Services (IMS)

John Nesbett/Jennifer Belodeau, 203-972-9200

jnesbett@institutionalms.com

or

Sparton Corporation:

Joseph McCormack, 847-762-5812

jmccormack@sparton.com

Ultra Electronics: 

Douglas Caster, Executive Chairman  02088134307

Ami Sharma, Group Finance Director

Susan McErlain, Corporate Affairs Director  07836522722

James White, MHP Communications   02031288756

www.ultra-electronics.com