Ultra Electronics signs defense systems contract for Indian navy
Under the contract's terms, Maritime Systems, with the support of its sister business Command and Sonar Systems and Indian Mahindra Defence Systems Ltd, will deliver defence systems based on Ultra's Sea Sentor product, which is currently used around the world, in particular by the UK's Royal Navy.
The defence, security, transport and energy company said the contracts would not make a meaningful contribution to revenue for 2017, due to the initial engineering phase and the time it will take for the sub-contracts to be placed.
The contract will take place over the next three years, with more revenue weighted towards the second half of the period when production deliveries are made. ■