Elbit Wins $315 Million in Israeli Military Contracts

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On Monday, Israeli defense contactor Elbit Systems (NASDAQ: ESLT  ) announced that it has won a series of contracts from Israel's Ministry of Defense worth a combined $315 million. Specifically, the company will:

  • Sell an unspecified number of its Hermes 900 unmanned aircraft systems over the course of three years, and provide maintenance services for eight, worth a combined $90 million.
  • Sell electronic warfare systems used by Israeli Air Force (IAF) F-15 and F-16 fighter jets and Israeli Navy Missile Vessels over four years, also worth $90 million.
  • Provide avionics and battle management systems, and also virtual training and related services to the IAF, worth $75 million over a six-year period.
  • Provide the Israel Defense Forces with mortar systems, worth $35 million over six years.
  • Supply advanced observation and long-range target acquisition systems, worth $25 million over three years.

Shares of Elbit are up 2.9% on the news at $39.56.

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Rich Smith

I love things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

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