12th Jan 2006 07:00
Ultra Electronics Holdings PLC12 January 2006 Embargoed until 0700 12 January 2006 Ultra Electronics Holdings plc ("Ultra" or "the Group") Ultra acquires Polyflex Aerospace Ltd for £4m Ultra announces that it has agreed to acquire Polyflex Aerospace Ltd("Polyflex") for a cash consideration, subject to net asset adjustment oncompletion, of £4.0 million. The business employs 29 people at its premises in Cheltenham, UK. Polyflexdesigns, manufactures and provides in-service support for high pressurepneumatic products for a wide variety of aerospace and defence applications.These include the cooling of infra-red detectors, weapons carriage and releasesystems and other pneumatic actuation and deployment systems. The products and services of Polyflex and their applications all have strongsynergies with those of Ultra's Precision Air Systems business, into which itwill be subsumed over the coming months. Precision Air Systems is part of theGroup's Aircraft & Vehicle Systems division. The acquisition of Polyflex will be financed using Ultra's existing facilities. Douglas Caster, Chief Executive of Ultra, commented:"I am pleased to have acquired Polyflex Aerospace Ltd. The business fits closelywith our existing Precision Air Systems business and will underpin our growthprospects in the market for advanced high pressure pneumatic sytems. Ultra will,as a result of this acquisition, be able to offer a broader product range toexisting and new aerospace and defence customers." - 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 / Susanne Walker 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; high integrity software and systems; aircraft system electronics; aircraft cockpit indicators; aircraft noise and vibration control systems; airframe protection systems, 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 and airline information management systems; ID card systems; naval power conversion; signature management of naval vessels; transit system power conversion and control. 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; sonobuoy receivers and processors; distributed surveillance sensor arrays; ship's sonar systems; 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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