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Elbit Systems Awarded $350 Million Contract

Elbit
Elbit Systems of America’s IHADSS is uniquely designed for the Apache

Elbit Systems Ltd. announced today that it was awarded a contract valued at approximately $350 million to supply an array of land systems to an international customer. The contract will be fulfilled over a three-year period. But Elbit has not disclosed who the new client is or what exactly it is acquiring from the company.

The big deals just keep on coming for Elbit.

In October, Elbit Systems’ U.S. subsidiary, Elbit Systems of America, was awarded an Indefinite Delivery/Indefinite Quantity (“ID/IQ”) contract from the U.S. Army to provide Integrated Helmet And Display Sight Systems (“IHADSS”) equipment for the AH-64 Apache helicopter fleet. The contract, with a maximum potential value of up to approximately $76 million, will be performed over a five-year period.

Last April, Israeli defense contractor Elbit Systems Ltd. was officially been awarded a contract valued at approximately $1.65 billion (approximately €1.375 billion) for the establishment and operation of the International Flight Training Center of the Hellenic Air Force – The Greek Air force. This marks the official consummation of an agreement made back in January between the Israeli Ministry of Defense and the Hellenic Ministry of National Defense which included the Elbit deal.

The Elbit Systems contract will be performed over a period of approximately 20 years and will include price indexation.

Under the contract, Elbit Systems will supply new M-346 training aircraft and will maintain the entire training fleet, comprised of dozens of M-346 and T-6 training aircraft for a period of approximately 20 years. In addition, the Company will provide its latest advanced Embedded Virtual Avionics (EVA) onboard the training aircraft, deliver networked flight simulators and an array of Ground-Based Training Stations (GBTS) as well as a command and control systems to enable efficient management of the flight training operation.

Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems, said of this new deal, “This contract award attests to the competitive advantage of our diverse portfolio of land systems. We are witnessing a growing demand in this field as Armed Forces increasingly seek to adopt sophisticated networked capabilities that enhance mission effectiveness and reduce collateral damage, while also improving economic efficiency”.

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