Defense electronics firm Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) said today that UK venture UAS Tactical Systems Ltd. (U-TacS) had won a $70 million contract with Thales UK to provide Contractor Logistics Support (CLS) services for the Watchkeeper project.
U-TacS is a joint venture of Elbit Systems (51%) and UK defense firm Thales UK (49%).
The contract is for services to be provided over the next three years.
The Watchkeeper project is designed to provide the UK armed forces with essential intelligence, surveillance, target acquisition and reconnaissance (ISTAR) capabilities. According to Elbit Systems, Watchkeeper is one of the largest unmanned aircraft systems (UAS) projects in the world.
The project's prime contractor is defense electronics firm Thales UK. U-TacS is in charge of development, integration, test flights and manufacture of the UAS’ sub-systems, including the unmanned aircraft, the ground control station, Elbit Systems D-CoMPASS payload and other systems.
Elbit Systems closed up 1.1% at $65.10 yesterday.
Published by Globes [online], Israel business news - www.globes-online.com - on April 15, 2010
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