Defence company and FTSE 250 constituent Ultra Electronics (LON:ULE) has secured a £24 million contract from Rolls-Royce (LON:RR) to supply reactor control & instrumentation systems for Royal Navy submarines.
This contract covers the procurement of long lead time materials. Ultra expects to sign a further contract covering the production of the equipment sets in the next twelve months.
Ultra was awarded a contract for the development of this equipment in December 2004. It has been acting as equipment integrator for the control and instrumentation suite.
Ultra said that the deal positioned it for the long-term support of the UK’s strategic defence assets.
“I am very pleased that Ultra has been awarded this contract by Rolls-Royce relating to the new reactor control and instrumentation equipment for Royal Navy submarines.
“This is an excellent example of Ultra delivering its strategies for growth by winning positions on long-term programmes with its specialist capabilities,” said chief executive of Ultra Douglas Caster.