Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) has won an $8.5 million contract to supply its Cardom mortars to the Spanish Army mortars to the Spanish Army. Deliveries will be made over the next 12 months.
The Cardom autonomous recoil 81mm mortars are mounted on VAMTAC high mobility tactical vehicles, manufactured by Spain's Vehículos Especiales SA.
Elbit Systems Land and C4I Division general manager Bezhalel (Butzi) Machlis said, "We are very proud of the Spanish Army's decision to acquire our mortars, following advanced armies like the Israel Defense Forces, the US Army and others. The selection attests to Elbit Systems' leadership in the field of advanced mortars and we hope, in light of Spain's important role in Europe and within NATO, that other armies will also acquire mortars produced by Elbit Systems."
Elbit Systems' share price fell 0.7% on Nasdaq on Friday to $45.03, giving a market cap of $1.93 million, and fell 0.1% by midday today on the TASE to NIS 161.50.
Published by Globes [online], Israel business news - www.globes-online.com - on October 31, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011