Further to the announcement made on 2 November 2018, Ultra announces that it has now completed the sale of its Airport Systems business to ADB SAFEGATE for a total consideration of £22m.
Further details of the disposal will be provided in the Group’s preliminary results announcement on 6 March 2019 and in the Group’s 2018 Annual Report & Accounts.
Ultra Electronics Holdings plc
Amitabh Sharma, Group Finance Director
0208 813 4307
Gabby Clinkard, Head of Investor Relations
Susan McErlain, Corporate Affairs Director
020 3128 8756
Tim Rowntree/ Ollie Hoare
Further information about Ultra:
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 multiple prime contractors in each of its sectors.
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 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 flat structure and small head office and executive team that provide to the individual businesses the same agile, responsive support that the businesses provide to their customers. In addition this team formulates Ultra’s overarching, corporate strategy.