Sparton Corporation Awarded $4.5 million in Foreign Sonobuoy ContractsJanuary 6, 2010
For Immediate Release
SCHAUMBURG, Ill.– January 6, 2010 – Sparton Corporation (NYSE: SPA) today announced that it has been awarded a contract by Norway to manufacture the AN/SSQ-62E DICASS sonobuoy. The award is valued at approximately $1.8 million and will be manufactured at its De Leon Springs, FL facility for a February 2010 delivery.
Sparton was previously awarded a $2.7 million contract by Australia for the AN/SSQ-62E DICASS sonobuoy in November 2009 which was delivered in December 2009.
“We are pleased to have won these opportunities to provide foreign nations to protect their borders with leading-edge products manufactured by our Defense & Security Systems business unit,” said President & CEO, Cary Wood. “These awards continue to demonstrate Sparton’s deliberate progress into markets outside the U.S.”
The primary purpose of a sonobuoy is to detect acoustic emissions or reflections from potentially hostile submarines and transmit these signals to airborne antisubmarine warfare forces. The SSQ-62E DICASS sonobuoy is an active acoustic sensor that is used in the final localization and attack phase of submarine prosecutions.
Headquartered in Illinois, Sparton is the only U.S.-owned designer and manufacturer of various sonobuoy products for the U.S. and other free-world nations.
About Sparton Corporation
Sparton Corporation (NYSE:SPA), now in its 110th 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. Headquartered in Schaumburg, Ill., Sparton currently has four manufacturing locations worldwide. The Company’s Web site may be accessed at http://www.sparton.com.
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