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Elbit Systems (ESLT) Receives Israel Ministry Of Defense Contracts

 December 31, 2012 09:37 AM

(By Balaseshan) Elbit Systems Ltd. (NASDAQ: ESLT), an international defense electronics company, said it has received various contracts from the Israel Ministry of Defense to supply various systems for a total value of about $315 million.

The new contracts relate to a variety of the company's fields of activity and include Unmanned Systems, Electronic Warfare, Electro-Optic Systems, Avionics and Land Systems.

Avionics Systems contract includes battle management systems (BMS) and avionics for helicopters, virtual training for the Israeli Air Force's (IAF) fighter aircraft array and operation and maintenance services for the IAF's Flight Academy, in a total of about $75 million, covering deliveries over a six-year period.

[Related -Dividend Roundup: PM, MDLZ, HNZ, LRY, BDN, MRH, ESLT]

Unmanned Systems activity includes Hermes 900 Unmanned Aircraft Systems (UAS) to be supplied within three years, as well as maintenance services for UAS over a period of eight years, in a total value of about $90 million.

Electronic Warfare (EW) Systems contract includes systems for F-15 and F-16 fighter aircraft and for the Navy's Missile Vessels, in a total amount of about $90 million, for supply over the next four years.

Electro-Optic Systems contract includes advanced observation and long-range target acquisition systems, in an amount of about $25 million, to be supplied over a three-year period.

Land Systems contract includes Cardom electronic and mortar artillery systems, known in the Israel Defense Forces (IDF) as "Keshet", for a total value of about $35 million, for supply over a six-year period.

[Related -Dividend Roundup: BAX, ADP, L, STI, DKS, ESLT, GFF]

Elbit Systems employs about 10,000 employees in Israel and provides work for an additional about 7000 employees of our local subcontractors. The company operates in 15 different sites throughout Israel, from Kiryat Shmona, Tel-Hai and Karmiel in the North to Ashdod, Arad, Hatzerim and Sderot in the South.

ESLT closed Friday's regular session up 0.65% at $38.44. The stock has been trading between $29.57 and $42.79 for the past 52 weeks.

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