SCHAUMBURG, Ill.--(BUSINESS WIRE)--Sparton Corporation (NYSE:SPA) and Ultra Electronics Holdings plc (ULE) announce that their ERAPSCO Joint Venture has been recognized by the U.S. Navy as a Tier 1 Superior Supplier. This honor is awarded to the top Department of Defense (DOD) suppliers in the nation and is based on an evaluation of the past three years of Contractor Performance Assessment Reporting System (CPARS) data. According to the U.S. Navy press release
The 2015 superior suppliers are recognized as corporations and business units who provide the greatest overall value to the department in terms of cost, schedule, performance, quality, and business relations.
“We are pleased and honored that the U.S. Navy has recognized the hard work of our employees, our consistent high quality performance, and value we provide to the taxpayer,” stated Cary B. Wood, President and Chief Executive Officer of Sparton.
“Ultra is delighted to be named as Tier 1 Superior Supplier to the U.S. Navy as it not only strengthens our relationship with the Navy but also recognises the dedication and capabilities of our employees,” stated Rakesh Sharma, Chief Executive of Ultra Electronics.
The full text of the U.S. Navy press release may be found at: http://www.navy.mil/submit/display.asp?story_id=90129
About Sparton Corporation
Sparton Corporation (NYSE:SPA), now in its 115th year, is a provider of complex and sophisticated electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering, production, distribution, and field service to technology-driven companies in the medical device, defense & security systems, and electronic manufacturing services markets. The primary markets served are Medical & Biotechnology, Military & Aerospace, and Industrial & Commercial. Headquartered in Schaumburg, IL, Sparton currently has twelve manufacturing locations and five engineering design centers worldwide. Sparton’s Web site may be accessed at www.sparton.com.
About Ultra Electronics:
Ultra Electronics is a group of businesses which manage a portfolio of specialist capabilities, generating highly differentiated solutions and products in the defence & aerospace, security & cyber, transport and energy markets by applying electronic and software technologies in demanding and critical environments to meet customer needs.
Ultra has world-leading positions in many of its specialist capabilities and, as an independent, non-threatening partner, is able to support all of the main prime contractors in its sectors. As a result of such positioning, Ultra’s systems, equipment or services are often mission or safety-critical to the successful operation of the platform to which they contribute. In turn, this mission-criticality secures Ultra’s positions for the long term which underpins the superior financial performance of the Group.
Ultra offers support to its customers through the design, delivery and support phases of a programme. Ultra businesses have a high degree of operational autonomy where the local management teams are empowered to devise and implement competitive strategies that reflect their expertise in their specific niches. The Group has a small head office and executive team that provide to the individual businesses the same agile, responsive support that they provide to customers as well as formulating Ultra’s overarching, corporate strategy.
Across the Group’s three divisions, Ultra operates in the following eight market segments:
- Underwater Warfare
Safe Harbor and Fair Disclosure Statement
Certain statements described in this press release are forward-looking statements within the scope of the Securities Act of 1933, as amended (the “Securities Act”), and the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements may be identified by the words “believe,” “expect,” “anticipate,” “project,” “plan,” “estimate,” “will” or “intend” and similar words or expressions. These forward-looking statements reflect Sparton’s current views with respect to future events and are based on currently available financial, economic and competitive data and its current business plans. Actual results could vary materially depending on risks and uncertainties that may affect Sparton’s operations, markets, prices and other factors. Important factors that could cause actual results to differ materially from those forward-looking statements include, but are not limited to, Sparton’s financial performance and the implementations and results of its ongoing strategic initiatives. For a more detailed discussion of these and other risk factors, see Part I, Item 1A, Risk Factors and Part II, Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, in Sparton’s Form 10-K for the year ended June 30, 2012, and its other filings with the Securities and Exchange Commission. Sparton undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.