Elbit Systems Wins $35 Million Israeli Defense Contract
Israeli defense contractor Elbit Systems announced in a press release Sunday that the Israel Ministry of Defense has awarded the company a $35 million contract to develop Unmanned Aircraft Systems (UAS) features. Elbit will deliver its systems within three years.
The new deal will add to Elbit's existing $90 million contract to provide Hermes 900 unmanned aircraft, as well as maintenance services, that the Ministry of Defense awarded the company last year.
Elbit's UAS Division General Manager Elad Aharonson was quoted in the press release as saying, "The IMOD's decision to award this development contract reflects the trust and recognition of our technological capabilities and further strengthens our long-term strategic cooperation with the Israel Defense Forces in the UAS field."
The article Elbit Systems Wins $35 Million Israeli Defense Contract originally appeared on Fool.com.Fool contributor Dan Carroll has no position in any stocks mentioned. The Motley Fool owns shares of Elbit Systems Ltd. (ADR). Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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