Elbit Systems Bags $200M Contracts From European Customer

Elbit Systems Ltd ESLT won two contracts from a European country worth $200 million.

As per the terms, ESLT will supply a C4I (Command, Control, Communication, Computers, Intelligence) solution to artillery battalions and a Hostile Fire Counter Attack (HFCA) solution. 

ESLT's solutions will be incorporated into the customer's wider artillery C4I system, and aid in boosting operational effectiveness.

The contracts are expected to be executed till 2026, with options for further extensions.

"We are honored by the trust placed in us and our products once again and will continue with our commitment to grow and expand our local know-how and capabilities in support of our customers. Elbit systems' solutions increase operational effectiveness and allow our customers to better utilize their fire power, while increasing their accuracy and lethality. These contracts validate the technological and operational advantages offered by our solutions," said Bezhalel (Butzi) Machlis, President and CEO. 

Last month, ESLT secured a contract worth approximately $55 million to supply multi-layered ReDrone Counter Unmanned Aerial Systems (C-UAS) to the Netherlands.

Also Read: Foresight Autonomous Inks Commercialization Agreement With Elbit

Price Action: ESLT shares are trading higher by 3.30% at $204.08 premarket on the last check Tuesday.