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Ultra Announces Disposal of Five Safety Critical Legacy Niche Product Lines
February 1, 2022 | Ultra ElectronicsEstimated reading time: 1 minute
Ultra announces that it has agreed to sell five legacy niche product lines to Ontic, the aerospace industry-leading provider of ‘extended life solutions’ for Original Equipment Manufacturer (OEM) legacy and non-core products.
The product lines comprise Legacy Electronics, Aircraft Lighting, Commodity Harnessing, Engine Terminal Blocks, and Rail Barrier Systems. The products will transition from two Ultra PCS UK sites into Ontic’s existing UK footprint.
The sale will have no material financial or another impact on the Group.
Simon Pryce, Chief Executive of Ultra, commented: "These disposals are in line with our Ultra strategy to focus on our core capabilities and markets where Ultra has specific expertise and knowledge. As such, these technologies will be better developed under Ontic’s new ownership. We’d like to thank the Ultra employees involved in these product lines for their contribution to Ultra and wish them and the business every success in the future with Ontic.”
Gareth Hall, Chief Executive Officer of Ontic, said: “Ontic is pleased to sign this agreement with Ultra supporting their future strategic plan, enabling Ultra to focus upon their core growth technologies. The acquisition by Ontic, the fourth deal with Ultra, will ensure that the products, the highly skilled jobs, and the supply chain remain in the UK protecting the end customers and ensuring an efficient transition”
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