Elbit Bags $548M Contract In Asia-Pacific; Completes Sale Of Ashot

  • Elbit Systems Ltd ESLT has secured a contract valued at $548 million to supply military-wide multi-domain combat networked warfare capabilities to the Armed Forces of a country in Asia-Pacific.
  • ESLT, which is engaged in networked warfare programs in several countries, will perform the contract over a four-year period. The program will include extensive co-development efforts and the transfer of know-how.
  • "This significant contract award to execute a military-wide networked warfare program further validates the leading position we hold in the growing areas of C4ISR and multi-domain networked warfare," commented CEO Bezhalel (Butzi) Machlis.
  • Also Read: Elbit Systems Secures $220M Contract To Supply Precision Guidance Kits
  • Separately, Elbit also disclosed the completion of the sale of all ordinary shares held by its Israeli subsidiary, IMI Systems Ltd., in IMI's 84.98%-owned subsidiary, Ashot Ashkelon Industries Ltd., and all capital notes of Ashot held by IMI and Elbit, to FIMI Opportunity Funds, for ~$84 million in cash.
  • Price Action: ESLT shares are trading higher by 5.45% at $230.51 on the last check Thursday.
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