Elbit Systems wins IDF UAV deal

The Hermes 900 flies at over 30,000 feet.

Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) has won a $50 million contract to provide the IDF with Hermes 900 and 450 unmanned aerial vehicles (UAV) over the next three years. The Israel Army will acquire the new Hermes 900 UAVs and also expand its current Hermes 450 fleet. Elbit Systems will also upgrade current UAV intelligence capabilities.

The Hermes 900 is a development of the Hermes 450. It has a flight altitude of over 30,000 feet, large payload capacity and flight capabilities in poor weather.

Elbit Systems' share closed at $61.65 on Nasdaq on Friday. The share was unchanged at NIS 229.40 in early trading on the TASE today.

Published by Globes [online], Israel business news - www.globes-online.com - on May 2, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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