DELEON SPRINGS, Fla. –(BUSINESS WIRE)–May 16, 2018– Sparton Corporation (NYSE:SPA) announces it will team with Raytheon to support the design, test, and deployment of the next generation Barracuda Mine Neutralization system.
The Barracuda Mine Neutralization system is an expendable, autonomous unmanned underwater vehicle intended to identify and neutralize bottom, near surface, and drifting mines. Sparton will design and develop the deployment packaging and wireless communications buoy supporting Raytheon’s mine neutralizer vehicle. Sparton will also provide manufacturing services to support system fabrication.
“Sparton is excited to leverage our knowledge of maritime communication, packaging, and deployment systems for this new opportunity,” said Jim Lackemacher, Group Vice President of the Engineered Components and Products Segment. “Sparton looks forward to collaboration with Raytheon to bring this vital capability to the fleet.”
About Sparton Corporation
Sparton Corporation (NYSE:SPA), now in its 118th year, is a provider of complex and sophisticated electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering, production, distribution, field service and refurbishment. The primary markets served are Medical & Biotechnology, Military & Aerospace and Industrial & Commercial. Headquartered in Schaumburg, Illinois, Sparton currently has thirteen manufacturing locations and engineering design centers worldwide. Sparton’s Web site may be accessed at www.sparton.com.
Safe Harbor and Fair Disclosure Statement
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: To the extent any statements made in this release contain information that is not historical, these statements are essentially forward-looking and are subject to risks and uncertainties, including the difficulty of predicting future results, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in Sparton’s filings with the Securities and Exchange Commission (SEC). The matters discussed in this press release may also involve risks and uncertainties concerning Sparton’s services described in Sparton’s filings with the SEC. In particular, see the risk factors described in Sparton’s most recent Form 10K and Form 10Q. Sparton assumes no obligation to update the forward-looking information contained in this press release.
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