Defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) said today that an air force in Asia awarded the company a contract worth around $18 million.
The deal is for the supply of an EHUD Air Combat Maneuvering Instrumentation (ACMI) system.
The contract, to be performed over two years, is a follow-on order that calls for the supply of two additional complete systems (static and mobile) to be used for real time, autonomous air-to-air and air-to-ground combat training and debriefing.
The new systems will be able to be used together with an existing Elbit Systems' training system that the customer is already operating.
Elbit says that eighteen air forces, on four continents, including numerous NATO countries, have chosen the EHUD ACMI training systems.
Shares in Elbit fell 0.4% to $50.57 yesterday, giving a market cap of $2.16 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on December 29, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010