Ultra bags US Navy contract
Ultra Electronics, the technology company with interests in defence, transport and energy, has been awarded an Indefinite Delivery, Indefinite Quantity contract by the US Navy.
Ultra Electronics, the technology company with interests in defence, transport and energy, has been awarded an Indefinite Delivery, Indefinite Quantity contract by the US Navy.
The contract, worth up to $49.2m, requires Ultra to supply upgraded versions of its submarine transducers that are stocked by the US Navy to support fleet requirements for new and restored units. The hull-mounted transducers use sonar to detect and localise targets.
Work on the contract is due to be completed in 2017.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
JH
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published