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Ultra Electronics suppliers say payments delayed

MUSCAT, February 25, 2015

A number of suppliers of goods and services to Ultra Electronics Ithra, which recently saw its IT contract with Oman Airports terminated, said that their payments are pending with the company for four months, according to a report.

“The London Stock Exchange-listed company, Ultra Electronics Holdings, had announced last month that it had lost its contract. The reason given was not known when we contacted the company representatives in Muscat,” local suppliers were quoted as saying in the Oman Observer report.

“We were assured of clearing our invoices by November 2014 and full settlement by December last year but nothing has materialised so far,” a supplier said.

“We are left with no option but to keep following up with the concerned officials here” the supplier added.

Ultra Electronics Ithra is a joint venture between Ultra Electronics PLC of the UK and Oman Investment Corporation.
 




Tags: Suppliers | Ultra Electronics |

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