Britische Rüstungsindustrie

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Ultra torpedo defence wins $18m US deal


Ultra Electronics, which supplies electronic products to the defence industry, has announced two substantial new contracts, one with the US navy and one with Rolls-Royce.



Ultra is to supply US Navy ships with a torpedo defence system in a deal worth $18m over two years. It has also finally signed a £23m, five-year contract to supply instrumentation to Royal Navy submarines Rolls-Royce is making.

City analysts said the contract to supply the US navy underlined the group's expertise. Investment bank UBS, in a note to clients, said: "Considering there are over 300 vessels in the US navy, we think this breakthrough contract has great promise for the medium term." Ultra has already generated nearly £60m of turnover from supplying 60 far smaller Navy vessels.

Ultra's chief operating officer Douglas Caster said that the anti-torpedo devices had never been used in combat.

The group said it is on track to post a strong second-half performance, despite the weak dollar likely to knock 3.5 percentage points off its sales growth.

The shares ended up 18 to 685p.