Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) has won a €25 million contract from the Austrian Army for the company's new 12.7mm unmanned electrically remote controlled weapon stations. Deliveries will be made over the next four years.
This is Elbit Systems' third international contract within a week.
Elbit Systems signed the contract with Fiat Group SpA (Milan: F) subsidiary Iveco SpA, the prime contractor for the program. The weapon stations will be integrated into Iveco Defense Vehicles' 4x4 Light Multi-role Vehicles jeeps.
The weapon stations include day and night detection systems and a multi-threat detection system that can detect, categorize and pinpoint laser, radar, and radio-frequency sources of threats. The weapon stations are designed for light combat vehicles, adding sensors and firepower, without greatly increasing the vehicle's weight.
Elbit Systems Land and C4I Tadiran general manager Bezhalel (Butzi) Machlis said, "We are proud to have been selected to take part in this important project for the Austrian Armed Forces. Elbit Systems' co-operation with Iveco Defence Vehicles reflects the level of recognition we have achieved with our customers and international partners. The selection of our systems constitutes a breakthrough in an emerging international market emanating from a shift in the modern battlefield."
Elbit Systems' share closed at $54.30 on Nasdaq on Friday. The share rose 1.7% in morning trading on the TASE today to NIS 232.10.
Published by Globes [online], Israel business news - www.globes-online.com - on May 18, 2009
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