Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) subsidiary Elisra Group has won a $60 million contract to supply an airborne surveillance system to a European country. The system will be delivered over two years.
Elisra CEO Yitzchak Gat said, "The Elisra system was selected after a long, in-depth evaluation process. We hope that the current award will be followed by additional contracts in the future.
Elbit Systems owns 70% of Elisra and Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) owns 30%.
Yesterday, Elbit Systems won a $10 million contract from an unnamed Asian country for a live training system, which will be delivered during 2010. The system will train a brigade combat team including infantry, armor, artillery, and air defense forces. The system integrates virtual elements into the live training for enriching the battlefield display, as well as video capabilities for improving control and debriefing.
Elbit Systems' share fell 2.6% on Nasdaq yesterday to $36.25. The share fell 1% in morning trading on the TASE to NIS 145.
Published by Globes [online], Israel business news - www.globes-online.com - on December 2, 2008
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