Elbit Systems Ltd. (TASE: ESLT; Nasdaq: ESLT) has announced that it has been awarded a contract worth approximately $600 million to supply systems to Hanwha Defense Australia for the Australian Land 400 Phase 3 Project. This project aims to deliver advanced protection, fighting capabilities and sensors suite to the Redback Infantry Fighting Vehicles (IFV) for the Australian Army. The contract will be performed over a period of five years.
Elbit Systems president and CEO Bezhalel said, "This milestone reaffirms our commitment to delivering advanced, mission-critical solutions to the Australian Army. Elbit Systems is dedicated to supplying cutting-edge defense technologies that will safeguard troops on the modern battlefield."
The announcement comes after the company’s announcement last week of a $300 million contract to supply weapon, reconnaissance, driving, and situational awareness systems for approximately 230 armored vehicles, to a European customer. That he contract will be performed over a period of six years, and includes custom design, production, lifecycle maintenance and complete in-country support.
Also last week, at the Singapore Airshow, Elbit Systems unveiled its Hermes 650 Spark tactical drone, which can carry up to 260 kilograms and operate with a range of up to 300 kilometers for 24 hours.
Elbit Systems' share price is up nearly 2.6% on the Tel Aviv Stock Exchange.
Published by Globes, Israel business news - en.globes.co.il - on February 26, 2024.
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