Key Developments: Sparton Corp (SPA)

SPA on New York Consolidated

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12 Feb 2016
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Latest Key Developments (Source: Significant Developments)

Sparton Corp and Ultra Electronics USSI Joint Venture (ERAPSCO) secures $20.4 Million for U.S. Navy Sonobuoy Contract
Monday, 2 Nov 2015 09:00am EST 

Ultra Electronics Holdings plc and Sparton Corp:Secures subcontracts valued at $20 million to their ERAPSCO joint venture, for the manufacture of sonobuoys for the United States Navy.Says GFY15 ERAPSCO Indefinite Delivery Indefinite Quantity (IDIQ) contract release for sonobuoy requirements under ERAPSCO's five year contract.Says ERAPSCO will provide production subcontracts in the amount of $9.6 million and $10.8 million to Ultra Electronics USSI and Sparton De Leon Springs, LLC respectively.Production will take place at Ultra Electronics USSI's Columbia City, IN facility and Sparton's De Leon Springs, FL facility and is expected to be completed by September 2017.  Full Article

Sparton Corporation announces new CFO
Tuesday, 8 Sep 2015 09:00am EDT 

Sparton Corp:Announces that Joseph G. McCormack has been appointed as the Company's new Chief Financial Officer, effective immediately.McCormack most recently joined Sparton as a Senior Financial Consultant in June of 2015.  Full Article

Sparton Corp and L - 3 Communication sreach settlement agreement
Monday, 24 Aug 2015 09:00am EDT 

Sparton Corp:Says has signed a settlement agreement to pay L - 3 Communications$2.5 million.Says agreement requires payment from Sparton to L - 3on or before Oct. 1, in consideration for dismissal of litigation.  Full Article

Ultra Electronics USSI and Sparton Corp Joint Venture Awarded $16.1 mln in foreign sales contracts
Monday, 17 Aug 2015 09:00am EDT 

Ultra Electronics Holdings PLC :Ussi and Sparton Corp joint venture (sonobuoy tech systems) awarded $16.1M in foreign sales contracts.Ussi says award of subcontracts valued at $16.1 million from their erapsco/sonobuoytech systems joint venture.Ussi - production will take place at Ultra Electronics ussi's Columbia city, in facility and sparton's de leon springs, fl facility.  Full Article

Sparton Corporation announces CFO transition
Monday, 1 Jun 2015 04:01pm EDT 

Sparton Corporation:Says Don Pearson, senior vice president and chief financial officer of sparton corporation, will be leaving.says has engaged a senior finance professional to assist company with financial and accounting matters on an interim basis.Says Wood will serve as interim principal financial officer for the company.  Full Article

Sparton Corporation and Ultra Electronics USSI Joint Venture (Sonobuoy Tech Systems) awarded $9.4M in foreign sales contracts
Thursday, 14 May 2015 08:15am EDT 

Sparton Corporation and Ultra Electronics USSI:Says the award of subcontracts valued at $9.4 million from their ERAPSCO/SonobuoyTech Systems joint venture.Says multiple foreign contracts are represented in these orders for the manufacture of Passive and Active Sonobuoys in support of multiple underwater missions.ERAPSCO/SonobuoyTech Systems will provide manufacturing subcontracts in the amount of $5.4 million to Ultra Electronics USSI and $4.0 million to Sparton Deleon Springs LLC.Production will take place at Ultra Electronics USSI's Columbia City, IN facility and Sparton's DeLeon Springs, FL facility.ERAPSCO/SonobuoyTech Systems was awarded these contracts for Passive and Active sonobuoys that are used for detection, classification, and localization of adversary submarines during peacetime and combat operations.Ultra Electronics USSI is a subsidiary of Ultra Electronics Holdings plc.  Full Article

Sparton Corp acquires Hunter Technology Corporation
Tuesday, 14 Apr 2015 04:05pm EDT 

Sparton Corp:Says its wholly owned subsidiary, Sparton Hunter Corporation, completed a merger with Hunter Technology Corporation in a $55 mln all-cash transaction.Merger is subject to certain and conditional post-closing adjustments.Lincoln International represented Hunter Technology in this transaction.  Full Article

Sparton Corp completes acquisition of Stealth.com Inc
Tuesday, 17 Mar 2015 08:15am EDT 

Sparton Corp:Completes acquisition of substantially all of assets of Stealth.com Inc on March 16 in an all-cash transaction.Transaction was funded through it's borrowings under credit facility in place.  Full Article

Sparton Corp and Ultra Electronics Holdings plc joint venture (ERAPSCO) awarded $57 mln for U.S. Navy sonobuoy contract
Tuesday, 17 Feb 2015 08:15am EST 

Sparton Corp and Ultra Electronics Holdings plc:Awarded subcontracts valued at $57 mln to their ERAPSCO joint venture, for manufacture of sonobuoys for U.S Navy.Says award is a GFY15 delivery order provided as a requirement from ERAPSCO's five year indefinite delivery indefinite quantity contract.Says ERAPSCO will provide production subcontracts in the amount of $32.6 mln and $24.4 mln to Sparton DeLeon Springs, LLC and Ultra Electronics USSI respectively.Says production will take place at Sparton's DeLeon Springs, FL facility as well as Ultra's Columbia City, IN facility.  Full Article

Sparton Corp's Sparton IED, LLC completes acquisition of KEP Marine
Monday, 26 Jan 2015 08:15am EST 

Sparton Corp:Says that its wholly owned subsidiary, Sparton IED, LLC completed acquisition of KEP Marine, from Kessler-Ellis Products, Inc. on Jan. 21, in all-cash transaction.Transaction was funded through Sparton's borrowings under the credit facility currently in place.  Full Article

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