Defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) will supply enough mini-UAVs to provide one for every IDF ground forces battalion.
Elbit was selected by Israel's Ministry of Defense in a battalion-level IDF tender, calling for a wide procurement of mini-UAVs for all IDF Ground Forces battalions, including training and logistics support. Elbit will sell its Skylark I LE.
The deal could be worth tens of millions of dollars, in accordance with IDF's requirements and procurement process.
The Skylark I LE is based on the accumulated experience acquired by the Skylark I, in thousands of operational hours performed, in various battlefields, both in Israel and abroad. Elbit's UAV family has served the IDF in recent years in counter terror missions and took an operational part in Israel's second Lebanon War.
Elbit Systems UAV division general manager Haim Kellerman said, "We have witnessed great interest among numerous defense forces in the export model of the Skylark I LE and we expect that many other customers will follow the IDF in its selection of this Elbit Systems UAV."
Elbit's shares were up 1.6% in morning trading on Nasdaq, giving a market cap of $1.8 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on December 16, 2008
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