Market Overview

Elbit Systems to Supply Israeli Ministry of Defense with Cardom Systems for Approximately $40M

Elbit Systems (NASDAQ: ESLT) announced today that it was awarded a contract by the Israeli Ministry of Defense in the amount of approximately $40 million to supply Cardom systems to the Israeli Defense Forces. Manufactured by Elbit Systems' subsidiary Soltam Systems Ltd., Cardom systems were initially supplied to the IDF in 2007 and are considered among the most advanced of their kind in the world. The systems are to be supplied over a period of four years.

The Cardom systems integrate a 120mm mortar with innovative fire control, navigation, automatic aiming and propulsion systems. The Cardom mortars are operational by various IDF infantry units, as well as various armies around the world, including the U.S. Army.

Posted-In: News Contracts Global

 

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