Elbit Wins $315 Million in Israeli Military Contracts

Rich Smith, The Motley Fool
Updated

On Monday, Israeli defense contactor Elbit Systemsannounced that it has won a series of contracts from Israel's Ministry of Defense worth a combined $315 million. Specifically, the company will:

  • Sell an unspecified number of its Hermes 900 unmanned aircraft systems over the course of three years, and provide maintenance services for eight, worth a combined $90 million.

  • Sell electronic warfare systems used by Israeli Air Force (IAF) F-15 and F-16 fighter jets and Israeli Navy Missile Vessels over four years, also worth $90 million.

  • Provide avionics and battle management systems, and also virtual training and related services to the IAF, worth $75 million over a six-year period.

  • Provide the Israel Defense Forces with mortar systems, worth $35 million over six years.

  • Supply advanced observation and long-range target acquisition systems, worth $25 million over three years.

Shares of Elbit are up 2.9% on the news at $39.56.

The article Elbit Wins $315 Million in Israeli Military Contracts originally appeared on Fool.com.

Fool contributor Rich Smith has no positions in the stocks mentioned above. The Motley Fool owns shares of Elbit Systems. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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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