Elbit Systems Pockets $100M Contract From Babcock

Elbit Systems Ltd's (NASDAQ:ESLT) subsidiary Elbit Systems UK Ltd. has secured a contract valued at ~$100 million (~£73 million) from Babcock International Group PLC (OTC:BCKIF) to provide the Royal Navy with new Electronic Warfare capabilities under Increment 1 of the Maritime Electronic Warfare System Integrated Capability (MEWSIC) Program.
The contract will be performed over 13 years and will include in-service support.
Under the Program, Elbit Systems UK will design, manufacture and deliver maritime Electronic Warfare (EW) suites comprised of fully digital full-spectrum Radar Electronic Support Measures (RESM) and EW Command and Control (EWC2) systems.
Price Action: ESLT shares are trading higher by 0.20% at $156.39 on the last check Tuesday.