search
Front > News

Elbit Systems wins $62m contract in Korea

24 Jun, 2012 10:39
שלח תגובה במיילGlobes' correspondent

The project will be carried out in cooperation with Korea Aerospace Industries.

Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) has won a $62 million contract to upgrade Korean Air Force C-130 transport aircraft with various types of advanced electronic systems. The company will also convert the existing analog cockpit to a "Glass Cockpit" using its digital flight displays..

The project will be carried out over four years in cooperation with Korea Aerospace Industries Ltd. (KAI).

Elbit Systems Aerospace Division co-general manager Yoram Shmuely said, "This award marks an additional milestone in the projects Elbit Systems has performed for the Korean Air Force in collaboration with Korea Aerospace Industries. This new contract is expected to further enhance capabilities of the Korean Air Force." He added: "The global demand for transport aircraft upgrades and the experience we have accumulated in performing various similar projects such as the previous program for the Korean C-130, as well as programs for the Romanian C-130 and the Brazilian C-95, position us as favorably for similar projects to follow."

Elbit Systems' share price was unchanged at NIS 131.50 in early trading on the TASE today, after rising 0.2% on Nasdaq on Friday to $33.85, giving a market cap of $1.44 billion.

Published by Globes [online], Israel business news - www.globes-online.com - on June 24, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

Published by Globes [online], Israel business news - www.globes-online.com - on June 24, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

Itamar Ben-Gvir credit: Noam Moskowitz, Knesset Spokesperson's Office Otzma Yehudit rejoins government

Itamar Ben-Gvir's party left the government in January in protest against the ceasefire in Gaza. The resumption of fighting has paved its way back.

Wiz founders Yinon Costica, Assaf Rappaport, Ami Luttwak, Roy Reznik credit: Avishag Shaar Yishuv Israel's biggest ever exit: Google buying Wiz for $32b

Google has confirmed that an agreement has been signed for an all-cash deal. Wiz will remain an independent company under Google.

Bezhalel Machlis credit: Assaf Shilo/Israel Sun Elbit Systems CEO: Our potential in Europe is huge

Bezhalel Machlis was speaking at an investor conference after the company released 2024 results showing revenue up 14.3%.

Gaza Strip, March 17 2025 credit: Reuters/Anadolu IDF resumes assault on Hamas

Extensive aerial attacks were carried out against targets in the Gaza Strip overnight.

Wiz founders Yinon Costica, Assaf Rappaport, Ami Luttwak, Roy Reznik credit: Avishag Shaar Yishuv Google renews attempt to buy Wiz - report

According to "The Wall Street Journal", Google parent company Alphabet is negotiating to buy the Israeli cloud computing security company for $30 billion.

Orit Strook credit: Marc Israel Sellem/The Jerusalem Post Finance C'ttee approves NIS 300m coalition funds distribution

The money will mainly go to Religious Zionist party minister Orit Strook's Ministry of Settlements and National Missions.

Dangoor Academy credit: British Embassy in Tel Aviv British Embassy showcases Israeli healthcare startups

The nine startups participated in the Dangoor HealthTech Academy, a program that connects Israeli startups with the UK healthcare system.

NextVision Stabilized Systems credit: Shlomi Yosef/Tali Bogdanovsky Next Vision shareholders make NIS 230m exit

A British hedge fund has bought a 2.5% stake in the stabilized cameras company.

Energean CEO Mathios Rigas at the Israel Business Conference credit: Shlomi Yosef Energean's $1b gas fields sale at risk

The sale of the energy company's asset portfolio in Egypt, Italy and Croatia may fall through because of the buyer's difficulties with the Italian regulator.

Kela Technologies founders Jason Manne, Hamutal Meridor, Alon Dror and Omer Bar Ilan credit: Yosef Haim Alterman Defense tech co Kela raises $39m

In response to the events of October 7, Kela has developed a platform for rapid integration of commercial technologies into military systems.

Benjamin Netanyahu credit: ‎Alex Kolomoisky, Yediot Aharonot Firing the Shin Bet chief: The hurdles

Prime Minister Benjamin Netanyahu says he has "lost trust" in Shin Bet head Ronen Bar. Will this be enough to overcome legal challenges to his dismissal?

Emiliano Calemzuk credit: PR CEO and "investor group" buying out Reshet 13

CEO Emiliano Calemzuk and the other investors will hold 74% of the television channel, while Len Blavatnik’s Access Industries and WBD will remain with 26%.

Inflation credit: Tali Bogdanovsky Unexpectedly low February CPI reading cuts inflation

While inflation in Israel in the 12 months to the end of February 2025 is lower than forecast, housing prices continue to rise.

Yitzhak Tshuva credit: Gidon Levy and Tali Bogdanovsky Competition Authority allows Delek takeover of Isracard

The Competition Authority is considered the easier of the two regulatory hurdles that the deal must overcome, the other being the Supervisor of Banks.

David Amsalem credit Noam Moskowitz, Knesset Spokesperson's Office Rafael to pay state NIS 444m dividend

The minister in charge of the Government Companies Authority, David Amsalem, has approved the payment by the defense company.

Barak MX air defense system credit: IAI IAI profit jumps 55%

Israel Aerospace Industries posted a net profit of $493 million for 2024, and ended the year with an all-time high orders backlog of $25 billion.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018