Elbit Systems unit wins $50m US Navy deal

M7 Aerospace has won a contract from BAE Systems to provide logistics support for the US navy aircraft training program.

M7 Aerospace LLC, a subsidiary of Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) US unit Elbit Systems of America (ELSA) LLC has been awarded a $50 million contract from BAE Systems to provide logistics support for the US navy aircraft training program.

The company announced today that M7 Aerospace will be working with BAE Systems to provide logistics support for the T-34, T-44, and T-6 aircraft under a contract awarded to BAE Systems by the Naval Air Systems Command (NAVAIR). Under its NAVAIR contract, BAE Systems awarded M7 Aerospace a subcontract of about $50 million to be undertaken over a five-year period.

ESA president and CEO Raanan Horowitz said, "We are pleased to team with BAE Systems for this opportunity and to serve the United States Chief of Naval Air Training. At ESA, our mission is to develop innovative solutions that protect and save out warfighters' lives. With this opportunity we are providing mission capable, safe-for-flight aircraft for our nation's warriors as they train for the future."

Published by Globes [online], Israel business news - www.globes-online.com - on March 5, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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