Sparton Corporation and USSI Joint Venture (Sonobuoy TechSystems) Awarded $13.3M in Direct Foreign Sales Contracts

SCHAUMBURG, Ill. & COLUMBIA CITY, Ind.–(BUSINESS WIRE)–Apr. 2, 2014– Sparton Corporation (NYSE:SPA) and USSI, a subsidiary of Ultra Electronics Holdings plc (ULE) announce the award of subcontracts valued at $13.3 million from their ERAPSCO/Sonobuoy TechSystems joint venture. The contract is for the manufacture of Passive and Active Sonobuoys in support of multiple international awards for exercises planned with the U.S. Navy as well as independent training and exercises as sanctioned under export regulations. ERAPSCO/Sonobuoy TechSystems will provide manufacturing subcontracts in the amount of $5.6 million to Sparton Electronics Florida, Inc. and $7.7 million to USSI. Production will take place at Sparton’s De Leon Springs, FL facility and USSI’s Columbia City, IN facility with completion planned by June 2014.

The Passive and Active Sonobuoys to be manufactured under this contract are used for detection, classification, and localization of adversary submarines during peacetime and combat operations.

ERAPSCO/Sonobuoy TechSystems is the choice of many international customers for assistance in protecting their borders with leading-edge products developed by the joint venture partners. ERAPSCO welcomes opportunities to play a role in the defense activities of foreign allies, and views the expansion of the number of contracts it’s received from foreign nations as demonstration of its progress into markets outside the U.S.

About Sparton Corporation

Sparton Corporation (NYSE:SPA), now in its 114th year, is a provider of complex and sophisticated electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering, production, distribution, field service, and refurbishment. The primary markets served are Medical & Biotechnology, Military & Aerospace, and Industrial & Commercial. Headquartered in Schaumburg, IL, Sparton currently has eight manufacturing locations and four engineering design centers worldwide. Sparton’s Web site may be accessed at www.sparton.com.

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Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: To the extent any statements made in this release contain information that is not historical, these statements are essentially forward-looking and are subject to risks and uncertainties, including the difficulty of predicting future results, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in Sparton’s filings with the Securities and Exchange Commission (SEC). The matters discussed in this press release may also involve risks and uncertainties concerning Sparton’s services described in Sparton’s filings with the SEC. In particular, see the risk factors described in Sparton’s most recent Form 10K and Form 10Q. Sparton assumes no obligation to update the forward-looking information contained in this press release.

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