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Rakesh Sharma: Ultra Electronics-Sparton JV Secures $87M Navy Sonobuoy Manufacturing IDIQ


Rakesh Sharma
Rakesh Sharma

Sparton (NYSE: SPA) and Ultra Electronics Holdings’ ERAPSCO joint venture has been awarded a five-year, $87 million contract to manufacture sonobuoys for the U.S. Navy.

Rakesh Sharma, CEO of Ultra Electronics, said Monday the contract reflects the Navy’s “increased focus on anti-submarine warfare and ‘pivot to the Pacific.’”

ERAPSCO will perform the production task at an Ultra Electronics Columbia City, Indiana-based facility and Sparton’s DeLeon Springs, Florida, site through March 2017.

“I am pleased that we have secured this important contract that will continue to provide critical sensor capabilities to the U.S. Navy, ” said Sharma.

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