Defense electronics firm Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) said that it has won several contracts to supply laser based systems to the Israeli Ministry of Defense and to North American customers.
The contracts are worth a total of $50 million. In the past week, Elbit Systems has also reported about $24 million in deals with the US Marines for various systems for attack helicopters.
The Israeli Ministry of Defense will be supplied with laser systems, while in North America, Elbit Systems will supply two different customers with airborne laser systems.
The orders were received by Elbit Systems Electro-Optics Elop Ltd. (Elop) and are to be delivered over the next two years.
Elbit Systems Electro-Optics general manager Adi Dar said the firm has seen growing demand for advanced laser systems, "mainly due to their ability to perform high precision identification and to prevent collateral damage".
Shares in Elbit Systems closed yesterday at $65.22. They ended 2009 at $65.05.
Published by Globes [online], Israel business news - www.globes-online.com - on January 21, 2010
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