Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) subsidiary Elbit Systems of America LLC has won a five-year contract to supply up to $11.4 million worth of 100-watt power amplifiers for the US Navy's Digital Modular Radio (DMR) program. The US Navy's Space and Naval Warfare Systems Center (SPAWAR) awarded the contract.
Elbit Systems of America will manufacture the power amplifiers at its plant in Tallahassee, Florida, and expects to complete the contract by September 2014.
The DMR is a compact, multichannel standard software-defined radio that provides several secure radio communications channels for voice and data communications.
Elbit Systems of America president and CEO Raanan Horowitz said, "This order reflects our continued and growing relationship with the US Navy."
Elbit Systems' share closed at $67.54 on Nasdaq on Friday, giving a market cap of $2.85 billion. The share rose 1.7% by early afternoon on the TASE today to NIS 253.20.
Published by Globes [online], Israel business news - www.globes-online.com - on October 5, 2009
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