Elbit Wins $315 Million in Israeli Military Contracts


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.

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