18th Jul 2016 06:32
LONDON (Alliance News) - Defence contractor Ultra Electronics Holdings PLC on Monday said it has secured a firm one-year contract with the US Navy covering production of ADC MK2 countermeasures.
The contract, worth "just over" USD4.0 million, will see Ultra continue producing the ADC MK2, a countermeasure used on ships and submarines to protect against torpedo threats.
The contract includes an option to be extended for a further four years, which could increase the total value to USD34.0 million, Ultra said.
"I am pleased that Ultra has been awarded this follow-on contract. It reinforces Ultra's position as a leader in the Undersea Defensive Warfare environment through the provision of highly complex countermeasure capabilities to both the US Navy and international customers," said Rakesh Sharma, Ultra's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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