RNS Number : 8004O
Ultra Electronics Holdings PLC
01 February 2019
 

                                                         

 

 

 

 

 

                                                                                                                                         1 Feb 2019

 

 

Ultra Electronics Holdings plc

("Ultra")

 

 

 

Ultra completes the sale of its Airport Systems business

to ADB SAFEGATE for £22 Million

 


 

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.

 

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Enquiries:

 

Ultra Electronics Holdings plc                  

investor.relations@ultra-electronics.com

Amitabh Sharma, Group Finance Director

0208 813 4307

Gabby Clinkard, Head of Investor Relations

07891 206239

Susan McErlain, Corporate Affairs Director     

07836 522722

 

 

MHP Communications

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.


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