Ultra Electronics signs defense systems contract for Indian navyStaff Writer | July 24, 2017
Ultra Electronics Holdings said its Maritime Systems business has been awarded a contract from the Indian Ministry of Defence to supply the Indian Navy with defence systems.
Defense Maritime Systems business
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. ■