Ultra Electronics (LSE:ULE) $10M Contract Win

Ultra Electronics announced today that its Ocean Systems business, based in Braintree, MA USA, has been awarded a contract valued at $10 million from the UK Ministry of Defence for the production of two variants, 101 and 102, of the Submarine Countermeasure Acoustic Device (SCAD) for the Royal Navy’s submarine fleet.

The SCAD 101 is a self-contained externally mounted and launched torpedo countermeasure. The SCAD 102 has equivalent capability, but is launched internally from the submerged signal ejector.

Ocean Systems is the world leader in torpedo countermeasure technology and has delivered over 20,000 devices to date. This contract includes effort for design enhancements, development, production, and support services.

Rakesh Sharma, Chief Executive of Ultra commented:

“I am pleased that Ultra has been awarded this important contract to replenish the SCAD devices critical to the UK Royal Navy’s submarine fleet self-protection capability. It reinforces Ultra’s position as a leader in the Underwater Warfare environment through the provision of highly complex countermeasure capabilities to the US Navy, the UK Royal Navy and other international customers”.

Original RNS here.

Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates.

Terms of Website Use

All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Malcare WordPress Security