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Ultra Electronics, Sparton Call Off Merger

Schaumburg, Illinois-based military electronics manufacturer Sparton (NYSE: SPA) and U.K.-based defense contractor Ultra Electronics have decided to abandon their $234 million merger agreement because of antitrust concerns from the Justice Department. Sparton said Monday it plans to resume negotiations with parties that previously showed interest in an acquisition deal and can immediately execute …

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Harris to Supply Sonobuoy Launchers for Boeing-Built Navy Poseidon Aircraft

TYSONS CORNER, VA, June 2, 2017 — Boeing (NYSE: BA) has awarded multiple contracts to Harris (NYSE: HRS) in the third quarter of fiscal 2017 for the supply of sonobuoy launchers for 49 U.S. Navy P-8A Poseidon maritime patrol aircraft, ExecutiveBiz reported Thursday. Harris said Wednesday it will provide single-shot and rotary launchers …

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Sparton-Ultra Electronics JV Lands $101M Navy Sonobuoys Order; Joseph Hartnett Comments

ERAPSCO, a joint venture of Sparton Corp. (NYSE: SPA) and Ultra Electronics, has received a five-year, $101.1 million contract to produce sonobuoy sonar systems for the U.S. Navy. Ultra Electronics USSI and Sparton De Leon Springs will manufacture the sonobuoys under production subcontracts from ERAPSCO worth $46.8 million and $54.3 million, …

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

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 …

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