31st Jul 2006 07:01
Ultra Electronics Holdings PLC31 July 2006 Embargoed until 07.00 31 July 2006 Ultra Electronics Holdings plc ("Ultra" or "the Group") Ultra acquires Winfrith Safety Systems for £3.1m Ultra announces that it has agreed to acquire the assets of Winfrith SafetySystems ("WSS") from Canberra Harwell (part of the Areva group) for a cashconsideration of £2.3m. Subject to the satisfactory completion of a currentproject and receipt of a follow-on order for similar products, a further £0.8mwill become payable. The business employs 24 people at its facilities on the Winfrith TechnologyCentre in Dorset. WSS supplies neutron flux detectors and the associatedsuper-screened cables to British Energy and Rolls-Royce. The products are usedto measure neutron flux density, which directly correlates with the level ofnuclear fission activity within a nuclear reactor. They therefore form a keypart of the sensor system that interfaces with the reactor control system. These products have applications in civil and military nuclear reactors and formpart of the reactor control and instrumentation system. As such, the businessand its products are synergistic to the products and capabilities in two ofUltra's existing businesses. Ultra's Command & Control Systems business isdeveloping a new reactor control & instrumentation system for Royal Navysubmarines. The Group's PMES business supplies high integrity electrical drivesfor moving the control rods that are used to regulate the output of the reactor. The acquisition of WSS will be financed using Ultra's existing facilities. Douglas Caster, Chief Executive Officer of Ultra, commented: "Winfrith SafetySystems is an exceptional fit with our existing C&CS and PMES businesses. Theaddition of Winfrith's products and capabilities augments the Group's offeringsfor application on the nuclear reactors used by the Royal Navy and offers thepotential for growth into the UK civil nuclear power market " - Ends - Enquiries:Ultra Electronics Holdings plc 020 8813 4321Douglas Caster, Chief Executive www.ultra-electronics.comDavid Jeffcoat, Group Finance Director [email protected] Weber Shandwick Square Mile 020 7067 0700Susan Ellis / Louise Robson Notes to editors: Ultra Electronics is a group of specialist businesses designing, manufacturingand supporting electronic and electromechanical systems, sub-systems andproducts for defence, security and aerospace applications worldwide. Ultra, which employs 3,000 people in the UK and North America, focuses on highintegrity sensing, control, communication and display systems with an emphasison integrated information technology solutions. The Group concentrates onobtaining a technological edge in niche markets, with many of its products andtechnologies being market leaders in their field. Ultra's products and services are used on aircraft, ships, submarines, armouredvehicles, surveillance systems, airports and transport systems around the world.Ultra also plays an important role in supporting prime contractors byundertaking specialist system and sub-system integration using the combinedexpertise of the Group businesses. Ultra is organised into three divisions as follows: Aircraft & Vehicle Systems including miniature airborne compressors; highintegrity software and systems; aircraft system electronics; aircraft cockpitindicators; aircraft noise and vibration control systems; airframe protectionsystems, armoured vehicle electronic information and control systems; human/computer interface equipment and shared working environment solutions. Information & Power Systems including command and control systems equipment;weapons interfacing electronics; radar tracking; electro optical tracking;surveillance systems; naval data processing and distribution; airport andairline information management systems; ID card systems; naval power conversion;signature management of naval vessels; transit system power conversion andcontrol. Tactical & Sonar Systems including secure tactical line-of-sight radio systems,multiplexers and switches; voice communication systems; tactical data links;cryptographic equipment; active, passive and multi-static sonobuoys; sonobuoyreceivers and processors; distributed surveillance sensor arrays; ship's sonarsystems; acoustic countermeasure systems and ship's torpedo defence systems. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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