8 July 2021: Cohort, the independent technology group, is pleased to announce that its wholly owned subsidiary ELAC SONAR GmbH (“ELAC”) has received an order valued at over €49m by Leonardo, among the top world players in the Defence and Security sectors, leader in the design and supply of systems for naval defence and maritime and coastal surveillance.
ELAC will provide sonar systems for two new U212 Near Future Submarines (NFS) being supplied by Fincantieri for the Italian Navy in the framework of the contract awarded to the Italian shipbuilding group and managed by the Organization for Joint Armament Cooperation (OCCAR), an international organisation with the express mission to facilitate the management of cooperative armament programmes in Europe (Currently OCCAR manages 16 Programmes with a portfolio of around 80 Billion€, that is expected to increase to up to 100 Billion€). Work on the contract will commence immediately and will complete in 2030.
In accordance with OCCAR Through Life Management principle and best practices, the contract includes delivery of submarine sonar systems, special test and training tools, and associated technical services. The contract also includes options for two more U212 NFS submarines.
Andy Thomis, Chief Executive, said “This is a major achievement for ELAC SONAR. Being selected to provide the complete submarine sonar suite for a European Navy of the first rank is a strong and visible endorsement of ELAC’s world leading Sphere™ technology. We look forward to working with Leonardo and Fincantieri to create a capability for the Italian Navy that is unmatched on a submarine of this class. The contract is also significant in relation to the Group’s order book and, together with other recent wins, enhances the visibility of future revenues.”