Author: Scott Nicholas|| Date Published: February 24, 2017
ERAPSCO, a joint venture between Ultra Electronics and Sparton (NYSE: SPA), has been awarded $64.6 million in contract funds to continue manufacturing sonobuoys for the U.S. Navy.
The Ultra Electronics USSI and Sparton De Leon Springs businesses will respectively receive $29.3 million and $35.3 million subcontracts as part of the GFY17 ERAPSCO indefinite-delivery, indefinite-quantity contract, Sparton said Tuesday.
“This contract is a reflection of the increased focus on anti-submarine warfare and the U.S. Navy™s commitment to providing key technology for this important mission,” said Ultra Electronics CEO Rakesh Sharma.
Joe Hartnett, interim president and CEO of Sparton, said the company aims to maintain the service branch’s trust in Sparton’s capacity to deliver devices used to help increase the safety of people in the country.
Work will occur at Ultra Electronics USSI’s facility in Columbia City, Indiana, and Sparton’s facility in De Leon Springs, Florida, through January 2019.
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ERAPSCO, a joint venture between Ultra Electronics and Sparton (NYSE: SPA), has been awarded $64.6 million in contract funds to continue manufacturing sonobuoys for the U.S. Navy.
