Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) and Boeing Company (NYSE: BA) have signed a memorandum of understanding to support the growth of both companies through the joint pursuit of opportunities for self-defense solutions for Boeing military aircraft in international markets.
Under the agreement, Elbit Systems will offer its Systems’ Directed Infrared Counter Measure (DIRCM) systems - lightweight, compact systems designed to protect aircraft from common battlefield threats made by its wholly-owned subsidiary, Electro-optics Elop Ltd. - for a range of Boeing military fixed-wing and vertical-lift aircraft. Boeing’s Network & Space Systems and Boeing Military Aircraft divisions are working together to integrate the DIRCM systems onto new and existing aircraft, as well as to provide signature analysis and end-to-end services and support.
“We are very proud to collaborate with Boeing in this unique solution, providing optimum protection for airborne platforms," said Elbit Systems president and CEO Joseph Ackerman. “Based on our long history of working with Boeing, we anticipate that this joint effort will provide the optimal solution for protecting our customers and creating synergistic value for both companies in this strategic and fast-growing market."
“Boeing is partnering with pioneering firms worldwide to bring advanced technology to our customers,” said Boeing Network & Space Systems president Roger Krone. “Our relationship with Elbit is an example of how we are enhancing our portfolio with innovative capabilities for a variety of solutions."
Published by Globes [online], Israel business news - www.globes-online.com - on February 12, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013