5th Oct 2010 07:00
Embargoed until 0700 5 October 2010
Ultra Electronics Holdings plc
("Ultra" or "the Group")
Ultra awarded £24m UK submarine reactor control equipment contract
Ultra announces that its Command & Control Systems business, based at High Wycombe, Buckinghamshire, has been awarded a £24m contract by Rolls-Royce relating to the supply of reactor control & instrumentation systems for Royal Navy submarines.
This contract covers the procurement of long lead time materials. A further contract covering the production of the equipment sets is anticipated in the next twelve months.
Ultra was awarded a contract in December 2004 for the development of this equipment. Ultra's role has been that of equipment integrator for the control and instrumentation suite and therefore included the full spectrum of system engineering skills, embracing requirements capture, architecture design, development, verification and qualification.
Douglas Caster, Chief Executive of Ultra, commented:
"I am very pleased that Ultra has been awarded this contract by Rolls-Royce relating to the new reactor control and instrumentation equipment for Royal Navy submarines. This is an excellent example of Ultra delivering its strategies for growth by winning positions on long-term programmes with its specialist capabilities. This contract positions the Group for the long-term support of the UK's strategic defence assets."
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Enquiries:
Ultra Electronics Holdings plc 020 8813 4321
Douglas Caster, Chief Executive www.ultra-electronics.com
Rakesh Sharma, Chief Operating Officer
Paul Dean, Group Finance Director
Media enquiries:
Susan Ellis, Senior Communications Adviser 07836 522722
James White, MHP Communications 020 7357 9477
Further information about Ultra:
Ultra Electronics is an internationally successful defence and aerospace company with a long, consistent track record of development and growth. Ultra businesses constantly innovate to create solutions to customer requirements that are different from and better than those of the Group's competitors. The Group has over one hundred distinct market or technology niches within its twenty four businesses. The diversity of niches enables Ultra to contribute to a large number of defence, aerospace and civil platforms and programmes and provides resilience to the Group's financial performance.
Ultra has world-leading positions in many of its niches and, as an independent, non-threatening partner, is able to support all of the main prime contractors with specialist capabilities and solutions. As a result of such positioning, Ultra's systems, equipment or services are often mission-critical to the successful operation of the platform to which they contribute. In turn, this mission-criticality secures Ultra's positions for the long term which underpin the superior financial performance of the Group.
Ultra offers support to its customers through the design, delivery and support phases of a programme. Ultra businesses have a high degree of operational autonomy where the local management teams are empowered to devise and implement competitive strategies that reflect their expertise in their specific niches. The Group has a small head office and executive team that provide to the individual businesses the same agile, responsive support that they provide to customers as well as formulating Ultra's overarching, corporate strategy.
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