Israeli defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE:ESLT) has announced that it has signed a contract worth €20 million, as part of a defense export agreement between the Israel and Montenegro Ministries of Defense to acquire Elbit Systems-made weapons including mortar munition systems and training equipment.
Israel Ministry of Defense director general Maj. Gen. (Res.) Eyal Zamir, approved the government-to-government (GTG) agreement between the ministries, the third between the countries in recent years.
Israel Ministry of Defense director of SIBAT Brig. Gen. (Res.) Yair Kulas and Director of Logistics in the Montenegro Ministry of Defense, Col. Vladan Martic, signed the agreement in a ceremony held at Israel ministry of defense headquarters in Tel Aviv.
As part of the contract, Elbit Systems will supply 120 millimeter mortar munition systems that can be mounted on 4×4 armored vehicles as well as the training of soldiers and officers at the Elbit-IMI Academy in Israel.
Kulas said, "This marks the third agreement with our partners in Montenegro since bolstering our defense relations in 2019 and is a great expression of confidence in the Israeli defense industry. Montenegro is a partner and ally of Israel and faces complex security challenges like other European countries. Israeli defense industries are able to provide them with technological solutions of the highest standard."
Elbit Systems Land general manager Yehuda Vered added, "Elbit Systems is proud to take part in partnership between Israel and Montenegro. Elbit’s solutions provide the optimal response to the growing needs in Europe. We are committed to providing both products and professional service at the highest level to our partners and customers."
Published by Globes, Israel business news - en.globes.co.il - on May 16, 2023.
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