Sparton Wins $4.5 Million Of Contracts
January 7, 2010 (FinancialWire) — Sparton Corp. (NYSE: SPA) said 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 the company’s De Leon Springs, Florida 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.
The primary purpose of a sonobuoy is to detect acoustic emissions or reflections from 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.
Illinois-based Sparton is a provider of electromechanical devices to companies in the medical device, defense & security systems, and electronic manufacturing services markets.
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