Elbit Systems in US border security win

"The Washington Post” reports that the consortium led by Boeing has won the $2.1 billion Secure Border Initiative project.

“The Washington Post” reported today that the consortium led by Boeing (NYSE: BA), which includes Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT), has won a $2.1 billion contract to help the Department of Homeland Security beef up security along more than 7,500 miles of US borders with Mexico and Canada.

In May, Boeing announced that it was participating in the tender, and that it passed the initial screening stage. The company added that Elbit System was a member of the consortium, through its US subsidiary, Kollsman Inc.

The Department of Homeland Security held the tender for the Secure Border Initiative (SBI) project. SBI will first be deployed along the US-Mexican border, especially along the Arizona section, a focus for smugglers of illegal immigrants Boeing said it could deploy the system along both the Canadian and Mexican borders within three years.

“The Washington Post” wrote, “Several congressional and industry sources confirmed that Boeing had defeated four other companies in the intensely fought contract competition. A public announcement was planned on Wednesday. A Boeing spokesman had no immediate comment.”

A The Department of Homeland Security spokesman said a decision was “very close.”

Boeing bid against Lockheed Martin (NYSE:LMT), Northrop Grumman (NYSE:NOC), Raytheon (NYSE: RTN), and Ericsson (Nasdaq: ERICY; SAX: ERIC).

Published by Globes [online], Israel business news - www.globes.co.il - on September 20, 2006

© Copyright of Globes Publisher Itonut (1983) Ltd. 2006

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