The company will set up, equip, and operate a helicopter pilot training center to qualify new pilots and train current ones.
Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) has won a €43 million contract to set up a helicopter pilot training center for Macedonia's Defense and Security Forces. Elbit Systems will purchase the aircraft, supply full mission simulators and operate the center to qualify new pilots and train current ones.
Elbit Systems Aerospace Division co-general manager Yoram Shmuely said that the contract attests to Macedonia's trust in Elbit after many years of cooperation. "Outsourcing in the areas of training, professional qualification and pilot training centers is growing worldwide and we hope that the significant experience and prestige that we have acquired in this area, both with the Israel Defense Forces and with other distinguished customers, will bring additional projects worldwide."
Elbit Systems' share price closed at $53.49 on Nasdaq yesterday, giving a market cap of $2.28 billion, and rose 0.3% by mid-afternoon on the TASE to NIS 184.30.
Published by Globes [online], Israel business news - www.globes-online.com - on May 11, 2011
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