Published On: Wed, Oct 22nd, 2014

ELBIT Gets $85 Million Asian Contract to Upgrade F-5 Aircraft

Northrop F-5E

Elbit Systems Ltd. announced today that it was awarded contracts from an Asian country in a total amount of approximately $85 million. Most of the amount is for an F-5 aircraft avionics upgrade program and the balance is for the supply of electro-optic and communications systems.

The name of the country in question was not revealed. Maybe it chose to remain anonymous because it does not want certain other countries to know that it does business with Israel.

It would be really funny if it turned out to be North Korea, but they probably don’t have any of the American made F-5 aircraft.

The contracts will be performed over a three-year period. Elbit has been providing upgrades for the plane including new mission computers, advanced glass cockpits featuring 3-color displays and operational capabilities, as well as the DASH IV Helmet, Weapon Delivery and Navigation Systems, for years.

Produced by Northrop Grumman, the F-5 Tiger is an agile, highly maneuverable, reliable supersonic fighter, combining advanced aerodynamic design, engine performance and low operating costs. Since 1959, more than 2, 600 were built by Northrop Grumman and under co-production and licensing agreements with Canada, the Republic of China, the Republic of Korea, Spain and Switzerland. It has also been used by Norway, Brazil and of course the U.S.

Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems commented, “Asia-Pacific is a very important market for Elbit Systems, and we are pleased to be awarded further programs in the region, which programs benefit from the synergies across the various parts of our organization. We are proud to have been selected to perform this aircraft upgrade program, building on our vast know-how and experience in F-5 avionics modernization projects.”

“We have witnessed a growing demand for upgrades of this nature, and we trust that further customers will follow, benefiting from a mature aircraft upgraded with market leading technologies.”

In other Elbit news, the company has said that it expects a drop in its third quarter earnings of $15-$20 million due to the recent depreciation of the Shekel.

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