Sparton Corporation (NYSE:SPA) and Ultra Electronics Holdings joint venture ERAPSCO won five year contract worth $28.4M, for the manufacture of sonobuoys for the United States Navy.

ERAPSCO will provide production subcontracts in the amount of $17.2M and $11.2M to Ultra Electronics USSI and Sparton De Leon Springs, LLC respectively.

“I am pleased that we have secured this important contract that will continue to provide critical sensor capabilities to the U.S. Navy. This contract is a reflection of the increased focus on anti-submarine warfare and the U.S. Navy’s commitment to providing key technology for this important mission,” stated Douglas Caster, Executive Chairman of Ultra Electronics.

SPA +3.06% premarket.

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