Ultra Electronics

Infobox Company
company_name = Ultra Electronics Holdings plc
company_
company_type = Public (lse|ULE)
foundation = 25 June 1993
location = Greenford, London, UK
key_people = Julian Blogh, Chairman
Douglas Caster (CEO)
area_served =
industry = Aerospace and defence
products =
revenue = £412.9 million (2007)
operating_income = £59.0 million (2007)
net_income = £41.2 million (2007)
num_employees =
parent =
subsid =
homepage = [http://www.ultra-electronics.com www.ultra-electronics.com]
footnotes =

Ultra Electronics Holdings (lse|ULE) is a British aerospace and defence company. It is a constituent of the FTSE 250 Index.

History

Ultra was formed in 1993 by a management buy-out of seven Dowty Group plc companies from TI Group plc. [cite web
title = Ultra Electronics Holdings plc Annual Report and Accounts 2005 | publisher = Ultra Electronics Holdings plc | date = 2005 | url = http://www.hemscott.com/ir/ule/pdf/annual_review_2005.pdf | format = PDF | accessdate =2006-09-25]

Dowty had been acquired by TI Group in 1992 for £500 million. [cite news | title = British Engineering Merger Moves Forward | publisher = Reuters | date = 1992-06-11 | url = http://query.nytimes.com/gst/fullpage.html?res=9E0CE2DC123EF932A25755C0A964958260&sec=&pagewanted=print | accessdate = 2006-09-25] TI Group had then begun disposing of "non-core" businesses. Julian Blogh, a manager at Dowty, resigned and secured financial backing for the £39 million buy-out. [cite news| first = Katharine| last =Campbell| title ='Pilot' with the right stuff: How three companies won acclaim in the Venturer of the Year awards| work = Financial Times| date = 1997-09-23| accessdate = 2007-08-28]

Operations

The company operates its portfolio as an umbrella of specialist businesses designing, manufacturing and supporting electronic and electromechanical systems, sub-systems and products for defence, security and aerospace applications worldwide. It employs over 3000 people, and has a market capitalisation approaching of GBP£850m (2007).

Ultra Electronics is based over 21 sites, with approximately half in the UK and half in the USA. It also has offices in China, Singapore, Canada, New Zealand, and the recently established (2007) Ultra Electronics Pty Ltd subsidiary based in Adelaide Australia.

References