Elbit Systems (Nasdaq: ESLT) announced today that its wholly owned subsidiary, Elop Electro-Optics Industries (El-Op), had received a new order for ground Thermal Sight Systems, valued at $63 million. The customer was not named.
Elbit said that the equipment was due to be supplied over a period of 24 months. This new contract is in addition to the previously received orders for night vision equipment valued at over $53 million announced by Elbit Systems in December.
Elbit Systems president and CEO Joseph Ackermansaid, "These recent orders demonstrate our leading role in the growing market of advanced electro-optical systems for defense and homeland security. They reflect Elbit Systems' in-house vertical integration capabilities and the company's extensive experience in developing advanced solutions for Israel Defense Forces and other customers worldwide."
El-Op’s products include night vision products for sighting and observation, laser products for range finding and target designation, airborne displays, stabilized payloads, airborne and space cameras, sights for Armored Fighting Vehicles, electro-optical countermeasures, and products for the homeland security market.
Elbit Systems shares are currently up 3.75% at NIS 88.60 on the Tel Aviv Stock Exchange, after closing at $19.17 on Nasdaq on Friday.
Published by Globes [online] - www.globes.co.il - on January 25, 2004