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Ultra Electronics (ULE)

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Wednesday 12 January, 2022

Ultra Electronics

Ultra Wins Major Contract in India

RNS Number : 1346Y
Ultra Electronics Holdings PLC
12 January 2022
 

 

 

 

 

For Immediate Release   12 January 2022

 

Ultra Electronics Holdings plc

("Ultra" or "the Group")

 

Ultra Wins Major Contract in India

 

  Ultra and Mahindra partner to win major contract with the Indian Navy

 
Ultra is pleased to announce, in partnership with Mahindra Defence Systems Limited, the award of the Integrated Anti-Submarine Warfare Defence Suite   (IADS) programme for selected frontline warships of the Indian Navy . The contract is worth approximately £60 million to Ultra. Deliveries are due to commence in 2024 and to be completed by 2030.

 

IADS provides a powerful multi-sensor ASW capability using an in-line active and passive towed Low Frequency Variable Depth Sonar as well as Torpedo Defence with embedded detection, classification & localisation to defeat detected Torpedo threats.

 

Simon Pryce, Ultra Chief Executive, commented:

"IADS represents a major enhancement in the Indian Navy's anti-submarine warfare capability and ability to deliver maritime mission effectiveness and protection to India's surface fleet.

 

This is another significant and strategic order for Ultra and our Sonar Systems business unit. We are very proud of and committed to this program me , and to our long-term partnership with Mahindra Defence to deliver outstanding solutions to the Indian Nav y ."

 

Mr SP Shukla, Chairman - Mahindra Defence and Mahindra Aerospace, stated that:

"IADS is the first major contract from the Indian Navy to an Indian private sector company for underwater detection and protection from threats.  

 

Mahindra is looking forward to delivering IADS and further build partnerships with Ultra in other programmes.This contract once again epitomises the success of the ' Make in India ' initiative of the Indian Government."

 

This announcement is in line with Ultra's policy to announce new orders of over 5% of Group sales.

Enquiries

Ultra Electronics Holdings plc


Gabriella Colley, SVP Investor Relations & Communications

+44 (0) 7891 206 239


[email protected]

 

About Ultra:

Ultra provides application-engineered solutions in the key elements of mission critical and intelligent systems. Through innovative problem solving, using sustainable capabilities, and evolving technologies, we deliver outstanding solutions to our customers' most complex problems in defence, security, critical detection and control environments.

www.ultra.group  

 

 

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