Elbit Systems subsidiary Soltam Systems first delivered the Cardom 120-mm self-propelled mortars to the IDF in 2007.
Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) has won a $40 million order for Cardom 120-mm self-propelled mortars from Israel's Ministry of Defense. The Cardom is built by Elbit Systems subsidiary Soltam Systems Ltd. Deliveries will be made over four years.
Soltam first delivered the Cardom 120-mm mortars to the IDF in 2007. The system is also used by the US Army and other militaries. The Cardom system integrates a 120-mm mortar with innovative fire control, navigation, automatic aiming and propulsion systems.
Elbit Systems' share price fell 0.3% on Nasdaq on Friday to $36.08, giving a market cap of $1.54 billion, and fell 0.6% in morning trading on the TASE today to NIS 130.20.
Published by Globes [online], Israel business news - www.globes-online.com - on September 18, 2011
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