Elbit Systems Wins $109M Contract From BAE Systems Hägglunds

Elbit Systems Ltd (NASDAQ:ESLT) disclosed winning a contract from BAE Systems PLC's (OTC:BAESY) Hägglunds worth $109 million.

As per the terms, ESLT will supply an Iron Fist Active Protection System for the CV90 Platform for a European customer. The contract duration is over three years.

"Recent conflicts have shown that armored fighting vehicles and tanks face an increased danger to forces on the battlefield. the Iron Fist has been proven to be effective against a range of threats including kinetic energy rounds and drones, neutralizing them far from troops inside combat fighting vehicles," said Yehuda (Udi) Vered, General Manager of Elbit Systems Land.

Last week, Collins Elbit Vision Systems (CEVS), a joint venture between Collins Aerospace, an RTX Corp (NYSE:RTX) business, and Elbit Systems has secured a $16 million contract from the U.S. Navy.

Also Read: Elbit Systems Bags $200M Contracts From European Customer

Price Action: ESLT shares closed higher by 0.24% at $199.15 on Friday.